GFL Environmental (NYSE:GFL) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS

GFL Environmental (NYSE:GFLGet Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03), Zacks reports. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%.

GFL Environmental Price Performance

Shares of GFL stock traded up $1.21 during trading hours on Wednesday, hitting $40.36. 4,947,014 shares of the company’s stock were exchanged, compared to its average volume of 2,334,475. The stock’s 50-day moving average is $37.08 and its 200-day moving average is $40.09. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market cap of $14.48 billion, a price-to-earnings ratio of 126.14, a price-to-earnings-growth ratio of 2.95 and a beta of 0.70. GFL Environmental has a 52 week low of $33.33 and a 52 week high of $51.51.

GFL Environmental Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be paid 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 payout ratio is currently 21.88%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. Scotiabank dropped their target price on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating for the company in a research report on Monday, May 4th. Citigroup set a $51.00 price target on shares of GFL Environmental and gave the company a “buy” rating in a report on Monday, July 6th. Weiss Ratings lowered shares of GFL Environmental from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 14th. Finally, Zacks Research lowered shares of GFL Environmental from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, GFL Environmental currently has an average rating of “Moderate Buy” and an average price target of $54.89.

Check Out Our Latest Stock Report on GFL Environmental

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Maverick Capital Ltd. increased its position in GFL Environmental by 216.5% in the 4th quarter. Maverick Capital Ltd. now owns 5,023,417 shares of the company’s stock valued at $215,761,000 after acquiring an additional 3,436,419 shares in the last quarter. UBS Group AG lifted its position in shares of GFL Environmental by 203.9% during the third quarter. UBS Group AG now owns 1,946,471 shares of the company’s stock worth $92,224,000 after purchasing an additional 1,305,953 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of GFL Environmental by 11,121.4% during the fourth quarter. AQR Capital Management LLC now owns 1,181,049 shares of the company’s stock valued at $50,735,000 after purchasing an additional 1,170,524 shares during the last quarter. Marshall Wace LLP grew its stake in shares of GFL Environmental by 3,633.6% during the fourth quarter. Marshall Wace LLP now owns 1,170,208 shares of the company’s stock valued at $50,260,000 after purchasing an additional 1,138,865 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of GFL Environmental by 62.6% in the third quarter. Millennium Management LLC now owns 2,412,497 shares of the company’s stock valued at $114,304,000 after purchasing an additional 929,206 shares in the last quarter. Institutional investors and hedge funds own 64.70% of the company’s stock.

About GFL Environmental

(Get Free Report)

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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Earnings History for GFL Environmental (NYSE:GFL)

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