GFL Environmental Inc. (NYSE:GFL) Declares Quarterly Dividend of $0.02

GFL Environmental Inc. (NYSE:GFL) announced a quarterly dividend on Thursday, July 2nd. Stockholders of record on Monday, July 13th will be paid a dividend of 0.0169 per share on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, July 13th.

GFL Environmental has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 5 years. GFL Environmental has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect GFL Environmental to earn $0.73 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 8.2%.

GFL Environmental Stock Performance

Shares of NYSE GFL traded up $0.07 during midday trading on Thursday, reaching $37.48. 3,417,274 shares of the stock were exchanged, compared to its average volume of 2,252,086. GFL Environmental has a twelve month low of $33.33 and a twelve month high of $51.51. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.32. The firm has a 50-day simple moving average of $36.66 and a two-hundred day simple moving average of $40.62. The firm has a market cap of $13.45 billion, a price-to-earnings ratio of 117.14, a PEG ratio of 2.86 and a beta of 0.70.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) EPS. As a group, analysts anticipate that GFL Environmental will post 0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GFL shares. Weiss Ratings cut shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, May 15th. JPMorgan Chase & Co. downgraded shares of GFL Environmental from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $49.00 to $42.00 in a report on Tuesday, April 14th. Scotiabank lowered their price target on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, May 4th. Zacks Research downgraded GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Finally, Wolfe Research assumed coverage on GFL Environmental in a report on Friday, March 13th. They set an “outperform” rating on the stock. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $55.00.

About GFL Environmental

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.