GFL Environmental (NYSE:GFL) Reaches New 12-Month Low on Analyst Downgrade

GFL Environmental Inc. (NYSE:GFL)’s stock price hit a new 52-week low on Tuesday after Citigroup lowered their price target on the stock from $55.00 to $51.00. Citigroup currently has a buy rating on the stock. GFL Environmental traded as low as $38.38 and last traded at $38.8890, with a volume of 6270414 shares trading hands. The stock had previously closed at $43.08.

Other research analysts have also issued research reports about the stock. Royal Bank Of Canada lifted their price target on shares of GFL Environmental from $59.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Wolfe Research started coverage on shares of GFL Environmental in a research note on Friday, March 13th. They issued an “outperform” rating on the stock. Barclays lifted their price target on shares of GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Weiss Ratings downgraded GFL Environmental from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 9th. Finally, JPMorgan Chase & Co. downgraded GFL Environmental from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $49.00 to $42.00 in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.44.

Institutional Trading of GFL Environmental

A number of hedge funds and other institutional investors have recently made changes to their positions in GFL. Jones Financial Companies Lllp raised its holdings in shares of GFL Environmental by 684.5% in the first quarter. Jones Financial Companies Lllp now owns 2,573 shares of the company’s stock valued at $124,000 after purchasing an additional 2,245 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of GFL Environmental by 94.1% in the first quarter. Goldman Sachs Group Inc. now owns 714,438 shares of the company’s stock valued at $34,514,000 after acquiring an additional 346,394 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of GFL Environmental by 3.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 458,936 shares of the company’s stock valued at $22,171,000 after acquiring an additional 14,252 shares during the last quarter. Invesco Ltd. increased its position in shares of GFL Environmental by 22.7% in the second quarter. Invesco Ltd. now owns 86,967 shares of the company’s stock valued at $4,388,000 after acquiring an additional 16,096 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of GFL Environmental by 43.1% in the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after acquiring an additional 219 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Trading Up 0.9%

The company has a debt-to-equity ratio of 1.05, a current ratio of 0.58 and a quick ratio of 0.58. The business has a 50-day moving average of $42.70 and a 200-day moving average of $43.71. The firm has a market cap of $13.94 billion, a price-to-earnings ratio of 5.73, a P/E/G ratio of 3.06 and a beta of 0.84.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, February 11th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.12. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.67 billion. GFL Environmental had a return on equity of 3.66% and a net margin of 56.61%.GFL Environmental’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.58) earnings per share. Research analysts anticipate that GFL Environmental Inc. will post 0.58 EPS for the current year.

GFL Environmental Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Monday, April 13th will be issued a dividend of $0.0169 per share. The ex-dividend date is Monday, April 13th. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.02. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. GFL Environmental’s dividend payout ratio is presently 1.03%.

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.