GFL Environmental (NYSE:GFL) Hits New 1-Year High – Here’s Why

GFL Environmental Inc. (NYSE:GFL)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $49.00 and last traded at $48.59, with a volume of 124943 shares traded. The stock had previously closed at $48.14.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $53.00 price objective on shares of GFL Environmental in a research note on Monday, February 24th. Stifel Nicolaus upgraded GFL Environmental from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. National Bankshares reaffirmed an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. Scotiabank boosted their price objective on shares of GFL Environmental from $50.00 to $52.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 5th. Finally, Citigroup initiated coverage on shares of GFL Environmental in a report on Monday, January 27th. They issued a “buy” rating and a $53.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, GFL Environmental currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.63.

GFL Environmental Stock Performance

The business has a 50 day moving average price of $45.35 and a two-hundred day moving average price of $43.82. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The stock has a market cap of $19.04 billion, a P/E ratio of -36.38 and a beta of 1.16.

GFL Environmental (NYSE:GFL) last released its quarterly earnings data on Monday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.98 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. On average, sell-side analysts forecast that GFL Environmental Inc. will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 13th were paid a dividend of $0.014 per share. The ex-dividend date was Monday, January 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. GFL Environmental’s dividend payout ratio is presently -3.23%.

Institutional Trading of GFL Environmental

Several institutional investors and hedge funds have recently modified their holdings of GFL. Continuum Advisory LLC grew its stake in GFL Environmental by 60.6% in the third quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after purchasing an additional 254 shares in the last quarter. Erste Asset Management GmbH lifted its holdings in shares of GFL Environmental by 2.0% in the 4th quarter. Erste Asset Management GmbH now owns 13,371 shares of the company’s stock worth $597,000 after buying an additional 261 shares during the period. Metis Global Partners LLC grew its position in shares of GFL Environmental by 5.4% during the 4th quarter. Metis Global Partners LLC now owns 5,790 shares of the company’s stock worth $258,000 after buying an additional 298 shares in the last quarter. Blue Trust Inc. increased its stake in shares of GFL Environmental by 124.9% during the fourth quarter. Blue Trust Inc. now owns 551 shares of the company’s stock valued at $25,000 after buying an additional 306 shares during the period. Finally, US Bancorp DE raised its holdings in shares of GFL Environmental by 12.5% in the fourth quarter. US Bancorp DE now owns 2,890 shares of the company’s stock valued at $129,000 after acquiring an additional 321 shares in the last quarter. Institutional investors own 64.70% of the company’s stock.

GFL Environmental Company Profile

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.