GFL Environmental (NYSE:GFL) Given New $56.00 Price Target at Citigroup

GFL Environmental (NYSE:GFL) had its target price trimmed by Citigroup from $58.00 to $56.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on GFL. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of GFL Environmental in a report on Monday, December 29th. Barclays started coverage on shares of GFL Environmental in a report on Friday, September 19th. They issued an “overweight” rating and a $62.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on GFL Environmental from $46.75 to $48.00 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company initiated coverage on GFL Environmental in a report on Thursday, November 13th. They set an “overweight” rating for the company. Finally, William Blair started coverage on GFL Environmental in a research report on Thursday, September 25th. They set an “outperform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $56.67.

GFL Environmental Stock Down 0.3%

GFL Environmental stock opened at $42.58 on Friday. The firm has a market capitalization of $15.29 billion, a P/E ratio of 6.67 and a beta of 0.88. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.98. GFL Environmental has a twelve month low of $40.83 and a twelve month high of $52.00. The stock’s fifty day simple moving average is $43.87 and its 200-day simple moving average is $46.21.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, November 5th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.69 billion. GFL Environmental had a return on equity of 3.06% and a net margin of 50.99%.The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 earnings per share. As a group, equities analysts expect that GFL Environmental will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, January 13th will be given a dividend of $0.0154 per share. The ex-dividend date is Tuesday, January 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.1%. GFL Environmental’s payout ratio is 0.94%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GFL. EverSource Wealth Advisors LLC lifted its stake in 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 buying an additional 219 shares during the last quarter. Advisory Services Network LLC increased its holdings in shares of GFL Environmental by 4.1% in the 3rd quarter. Advisory Services Network LLC now owns 6,537 shares of the company’s stock valued at $310,000 after acquiring an additional 256 shares during the period. AGP Franklin LLC raised its position in GFL Environmental by 3.7% in the 2nd quarter. AGP Franklin LLC now owns 7,427 shares of the company’s stock valued at $375,000 after purchasing an additional 262 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in GFL Environmental by 21.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,606 shares of the company’s stock worth $75,000 after purchasing an additional 289 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its position in GFL Environmental by 45.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after purchasing an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

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.