GFL Environmental (NYSE:GFL) Releases Quarterly Earnings Results, Beats Expectations By $998.94 EPS

GFL Environmental (NYSE:GFL) announced its quarterly earnings data on Wednesday. The company reported $999.00 earnings per share for the quarter, beating the consensus estimate of $0.06 by $998.94, reports. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.

GFL Environmental Stock Up 0.5%

GFL Environmental stock traded up $0.19 during mid-day trading on Wednesday, hitting $40.34. The company’s stock had a trading volume of 2,285,364 shares, compared to its average volume of 1,929,667. The company has a market cap of $14.44 billion, a PE ratio of 5.93, a price-to-earnings-growth ratio of 3.50 and a beta of 0.84. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.58 and a quick ratio of 0.58. GFL Environmental has a 52-week low of $36.96 and a 52-week high of $52.00. The firm’s 50 day moving average is $42.12 and its 200 day moving average is $43.28.

GFL Environmental Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Monday, April 13th will be paid a $0.0169 dividend. The ex-dividend date of this dividend is Monday, April 13th. This represents a $0.07 annualized dividend and a yield of 0.2%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.02. GFL Environmental’s dividend payout ratio (DPR) is currently 0.88%.

Institutional Investors Weigh In On GFL Environmental

Institutional investors have recently made changes to their positions in the company. Artisan Partners Limited Partnership acquired a new stake in shares of GFL Environmental during the 4th quarter valued at about $315,000. Advisory Services Network LLC lifted its holdings in shares of GFL Environmental by 4.1% during the 3rd quarter. Advisory Services Network LLC now owns 6,537 shares of the company’s stock valued at $310,000 after buying an additional 256 shares during the last quarter. Engineers Gate Manager LP lifted its holdings in shares of GFL Environmental by 6.8% during the 2nd quarter. Engineers Gate Manager LP now owns 5,187 shares of the company’s stock valued at $262,000 after buying an additional 331 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in shares of GFL Environmental during the 4th quarter valued at about $227,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of GFL Environmental during the 4th quarter valued at about $221,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Barclays upped their price objective on GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Scotiabank cut their price objective on GFL Environmental from $57.00 to $56.00 and set a “sector outperform” rating for the company in a report on Thursday, February 12th. Citigroup reduced their target price on GFL Environmental from $55.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Zacks Research raised GFL Environmental from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. Finally, Wolfe Research assumed coverage on GFL Environmental in a report on Friday, March 13th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.44.

GFL Environmental Company Profile

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.