GFL Environmental (NYSE:GFL) Earns Sector Outperform Rating from Analysts at Scotiabank

Scotiabank began coverage on shares of GFL Environmental (NYSE:GFL) in a research report report published on Friday, MarketBeat.com reports. The brokerage issued a sector outperform rating and a $50.00 target price on the stock.

Several other research firms have also weighed in on GFL. Raymond James raised their price objective on GFL Environmental from $43.00 to $45.00 and gave the stock an outperform rating in a research note on Monday, July 22nd. BMO Capital Markets lowered GFL Environmental from an outperform rating to a market perform rating and decreased their price target for the company from $43.00 to $42.00 in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada boosted their price objective on GFL Environmental from $46.00 to $48.00 and gave the stock an outperform rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, GFL Environmental has a consensus rating of Moderate Buy and a consensus price target of $43.09.

GFL Environmental Price Performance

Shares of NYSE GFL opened at $39.96 on Friday. GFL Environmental has a twelve month low of $26.87 and a twelve month high of $43.79. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.45. The firm has a 50-day moving average of $40.48 and a two-hundred day moving average of $37.12. The company has a market capitalization of $15.04 billion, a price-to-earnings ratio of 37.79 and a beta of 1.16.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, July 31st. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. As a group, analysts expect that GFL Environmental will post 0.62 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be paid a dividend of $0.014 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $0.06 annualized dividend and a yield of 0.14%. GFL Environmental’s dividend payout ratio (DPR) is presently 4.67%.

Institutional Trading of GFL Environmental

A number of hedge funds have recently made changes to their positions in GFL. The Manufacturers Life Insurance Company grew its position in GFL Environmental by 11.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 842,970 shares of the company’s stock valued at $29,126,000 after purchasing an additional 88,314 shares in the last quarter. Exencial Wealth Advisors LLC acquired a new stake in shares of GFL Environmental during the 4th quarter valued at $838,000. Ossiam grew its holdings in shares of GFL Environmental by 39.0% during the 4th quarter. Ossiam now owns 62,623 shares of the company’s stock valued at $2,171,000 after acquiring an additional 17,562 shares in the last quarter. Harbert Fund Advisors Inc. acquired a new position in shares of GFL Environmental in the fourth quarter worth $1,329,000. Finally, Centaurus Financial Inc. raised its holdings in shares of GFL Environmental by 7.1% during the fourth quarter. Centaurus Financial Inc. now owns 175,095 shares of the company’s stock worth $6,043,000 after acquiring an additional 11,561 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

About GFL Environmental

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.