Brokerages Set GFL Environmental Inc. (NYSE:GFL) Price Target at $49.63

Shares of GFL Environmental Inc. (NYSE:GFL) have earned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $51.38.

GFL has been the topic of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $53.00 price target on shares of GFL Environmental in a research note on Monday, February 24th. Stifel Nicolaus upgraded GFL Environmental from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. Truist Financial upped their price objective on GFL Environmental from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group raised their target price on shares of GFL Environmental from $50.00 to $57.00 and gave the company a “buy” rating in a report on Friday. Finally, Citigroup upped their price target on shares of GFL Environmental from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday.

GFL Environmental Price Performance

Shares of GFL Environmental stock opened at $44.76 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental has a 52 week low of $30.57 and a 52 week high of $49.35. The stock’s 50-day simple moving average is $46.15 and its 200-day simple moving average is $44.17. The company has a market capitalization of $17.61 billion, a price-to-earnings ratio of -33.65 and a beta of 1.09.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.98 billion. As a group, analysts expect that GFL Environmental will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 14th will be issued a $0.0154 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.14%. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s dividend payout ratio (DPR) is -3.23%.

Institutional Trading of GFL Environmental

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Continuum Advisory LLC grew its stake in shares of GFL Environmental by 60.6% during the third quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock valued at $29,000 after buying an additional 254 shares during the last quarter. Erste Asset Management GmbH grew its position in GFL Environmental by 2.0% in the 4th quarter. Erste Asset Management GmbH now owns 13,371 shares of the company’s stock valued at $597,000 after acquiring an additional 261 shares during the last quarter. Metis Global Partners LLC increased its stake in GFL Environmental by 5.4% in the fourth quarter. Metis Global Partners LLC now owns 5,790 shares of the company’s stock worth $258,000 after purchasing an additional 298 shares during the period. Blue Trust Inc. increased its stake in GFL Environmental by 124.9% in the fourth quarter. Blue Trust Inc. now owns 551 shares of the company’s stock worth $25,000 after purchasing an additional 306 shares during the period. Finally, US Bancorp DE lifted its position in shares of GFL Environmental by 12.5% during the fourth quarter. US Bancorp DE now owns 2,890 shares of the company’s stock worth $129,000 after purchasing an additional 321 shares during the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

About GFL Environmental

GFL Environmental Inc offers non-hazardous solid waste management and environmental services in Canada and the United States. It offers solid waste management, liquid waste management, and soil remediation services, including collection, transportation, transfer, recycling, and disposal services for municipal, residential, and commercial, and industrial customers.