GFL Environmental (NYSE:GFL) Price Target Raised to $56.00

GFL Environmental (NYSE:GFL) had its price target boosted by Scotiabank from $54.00 to $56.00 in a report issued on Monday morning, MarketBeat reports. Scotiabank currently has a sector outperform rating on the stock.

GFL has been the topic of several other reports. Raymond James reiterated an “outperform” rating and issued a $57.00 price target (up from $56.00) on shares of GFL Environmental in a research report on Friday, May 2nd. UBS Group increased their target price on GFL Environmental from $50.00 to $57.00 and gave the company a “buy” rating in a report on Friday, April 4th. National Bankshares reissued an “outperform” rating on shares of GFL Environmental in a report on Tuesday, March 11th. Truist Financial upped their price objective on GFL Environmental from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $53.00 price objective on shares of GFL Environmental in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.14.

GFL Environmental Stock Performance

NYSE GFL opened at $51.21 on Monday. The business has a 50 day moving average price of $47.76 and a 200 day moving average price of $45.54. The company has a market capitalization of $20.15 billion, a P/E ratio of -38.50 and a beta of 1.08. GFL Environmental has a 1-year low of $30.57 and a 1-year high of $52.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.10). The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.52 billion. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The firm’s revenue was down 13.4% on a year-over-year basis. Sell-side analysts expect that GFL Environmental will post 0.58 EPS for the current fiscal year.

GFL Environmental Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th were given a dividend of $0.0154 per share. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. GFL Environmental’s payout ratio is currently 1.23%.

Hedge Funds Weigh In On GFL Environmental

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Erste Asset Management GmbH raised its holdings in GFL Environmental by 2.0% during the fourth quarter. Erste Asset Management GmbH now owns 13,371 shares of the company’s stock worth $597,000 after purchasing an additional 261 shares in the last quarter. Metis Global Partners LLC boosted its stake in GFL Environmental by 5.4% during the fourth quarter. Metis Global Partners LLC now owns 5,790 shares of the company’s stock valued at $258,000 after buying an additional 298 shares in the last quarter. Blue Trust Inc. grew its holdings in GFL Environmental by 124.9% during the fourth quarter. Blue Trust Inc. now owns 551 shares of the company’s stock worth $25,000 after acquiring an additional 306 shares during the period. US Bancorp DE lifted its stake in GFL Environmental by 12.5% during the fourth quarter. US Bancorp DE now owns 2,890 shares of the company’s stock valued at $129,000 after purchasing an additional 321 shares during the last quarter. Finally, Millstone Evans Group LLC boosted its stake in shares of GFL Environmental by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 560 shares of the company’s stock worth $27,000 after acquiring an additional 334 shares in the last quarter. Institutional investors own 64.70% of the company’s stock.

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.