GFL Environmental (NYSE:GFL) Price Target Raised to $57.00

GFL Environmental (NYSE:GFLFree Report) had its price target raised by Scotiabank from $56.00 to $57.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a sector outperform rating on the stock.

Several other analysts have also recently weighed in on the stock. Zacks Research cut shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 22nd. Weiss Ratings raised shares of GFL Environmental from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 26th. JPMorgan Chase & Co. upped their price objective on GFL Environmental from $40.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, July 16th. Citigroup set a $51.00 price objective on GFL Environmental and gave the stock a “buy” rating in a research report on Monday, July 6th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a research note on Monday. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.25.

View Our Latest Stock Report on GFL

GFL Environmental Trading Up 0.6%

Shares of GFL stock opened at $43.72 on Wednesday. The company’s 50-day moving average price is $40.47 and its 200-day moving average price is $39.85. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.34. The stock has a market cap of $15.78 billion, a price-to-earnings ratio of -82.49, a PEG ratio of 2.82 and a beta of 0.68. GFL Environmental has a twelve month low of $33.33 and a twelve month high of $48.57.

GFL Environmental (NYSE:GFLGet Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.03). GFL Environmental had a positive return on equity of 4.14% and a negative net margin of 3.28%.The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business posted $0.26 earnings per share. GFL Environmental’s revenue for the quarter was up 16.3% on a year-over-year basis. As a group, equities analysts predict that GFL Environmental will post 0.65 earnings per share for the current year.

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 13th were paid a $0.0169 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, July 13th. GFL Environmental’s payout ratio is -13.21%.

Hedge Funds Weigh In On GFL Environmental

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE raised its position in GFL Environmental by 43.8% in the first quarter. Bank of America Corp DE now owns 1,847,166 shares of the company’s stock valued at $77,064,000 after purchasing an additional 563,001 shares during the period. Legal & General Group Plc grew its stake in shares of GFL Environmental by 12.0% in the fourth quarter. Legal & General Group Plc now owns 1,225,212 shares of the company’s stock valued at $52,700,000 after buying an additional 131,332 shares in the last quarter. Verbena Value LP raised its holdings in shares of GFL Environmental by 44.7% in the 1st quarter. Verbena Value LP now owns 1,211,100 shares of the company’s stock valued at $50,527,000 after buying an additional 374,000 shares during the period. Generali Asset Management SPA SGR acquired a new position in GFL Environmental during the 4th quarter worth about $1,327,000. Finally, Vestcor Inc boosted its holdings in GFL Environmental by 25.7% during the 4th quarter. Vestcor Inc now owns 391,815 shares of the company’s stock valued at $16,828,000 after acquiring an additional 80,000 shares during the period. Hedge funds and other institutional investors own 64.70% of the company’s stock.

About GFL Environmental

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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.

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Analyst Recommendations for GFL Environmental (NYSE:GFL)

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