GFL Environmental (NYSE:GFL – Free Report) had its price target lowered by JPMorgan Chase & Co. from $42.00 to $40.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an underweight rating on the stock.
Several other brokerages also recently commented on GFL. Scotiabank cut 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 report on Monday, May 4th. Zacks Research lowered shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Wolfe Research initiated coverage on GFL Environmental in a research report on Friday, March 13th. They set an “outperform” rating on the stock. Citigroup reduced their price target on GFL Environmental from $55.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, GFL Environmental presently has an average rating of “Moderate Buy” and a consensus target price of $54.78.
View Our Latest Research Report on GFL
GFL Environmental Stock Performance
GFL Environmental (NYSE:GFL – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. GFL Environmental had a return on equity of 4.53% and a net margin of 3.09%.The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm earned ($0.09) earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts expect that GFL Environmental will post 0.54 earnings per share for the current fiscal year.
GFL Environmental Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be given a $0.0169 dividend. The ex-dividend date of this dividend is Monday, July 13th. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. GFL Environmental’s dividend payout ratio (DPR) is currently 21.88%.
Hedge Funds Weigh In On GFL Environmental
Several hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its position in GFL Environmental by 43.1% in the 2nd 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 raised 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 worth $310,000 after purchasing an additional 256 shares in the last quarter. Tobam lifted its holdings in shares of GFL Environmental by 10.5% in the fourth quarter. Tobam now owns 3,079 shares of the company’s stock valued at $132,000 after purchasing an additional 293 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in GFL Environmental by 45.2% during the third quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock valued at $46,000 after purchasing an additional 304 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its position in GFL Environmental by 6.8% during the second quarter. Engineers Gate Manager LP now owns 5,187 shares of the company’s stock valued at $262,000 after purchasing an additional 331 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.
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