GFL Environmental (NYSE:GFL) Now Covered by Analysts at Scotiabank

Scotiabank started coverage on shares of GFL Environmental (NYSE:GFL) in a report released on Friday morning, MarketBeat reports. The brokerage issued a sector outperform rating and a $50.00 price target on the stock.

Several other research firms have also weighed in on GFL. Royal Bank of Canada lifted their price objective on GFL Environmental from $46.00 to $48.00 and gave the company an outperform rating in a research note on Friday, August 2nd. BMO Capital Markets cut shares of GFL Environmental from an outperform rating to a market perform rating and reduced their price target for the company from $43.00 to $42.00 in a research report on Tuesday, July 9th. Finally, Raymond James increased their price objective on shares of GFL Environmental from $43.00 to $45.00 and gave the stock an outperform rating in a research report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, GFL Environmental has a consensus rating of Moderate Buy and an average target price of $43.09.

GFL Environmental Price Performance

GFL opened at $39.96 on Friday. GFL Environmental has a 1 year low of $26.87 and a 1 year high of $43.79. The company’s 50 day simple moving average is $40.48 and its 200 day simple moving average is $37.12. The stock has a market capitalization of $15.04 billion, a PE ratio of 37.79 and a beta of 1.16. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.89 and a current ratio of 0.89.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. As a group, sell-side analysts expect that GFL Environmental will post 0.62 EPS for the current year.

GFL Environmental Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be given a $0.014 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $0.06 dividend on an annualized basis and a yield of 0.14%. GFL Environmental’s payout ratio is currently 4.67%.

Institutional Trading of GFL Environmental

Several large investors have recently modified their holdings of GFL. The Manufacturers Life Insurance Company raised its stake in shares of GFL Environmental by 11.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 842,970 shares of the company’s stock valued at $29,126,000 after purchasing an additional 88,314 shares in the last quarter. Exencial Wealth Advisors LLC bought a new stake in shares of GFL Environmental in the 4th quarter valued at approximately $838,000. Ossiam raised its position in shares of GFL Environmental by 39.0% during the 4th quarter. Ossiam now owns 62,623 shares of the company’s stock valued at $2,171,000 after acquiring an additional 17,562 shares in the last quarter. Harbert Fund Advisors Inc. acquired a new stake in shares of GFL Environmental during the 4th quarter valued at approximately $1,329,000. Finally, Centaurus Financial Inc. lifted its stake in GFL Environmental by 7.1% during the fourth quarter. Centaurus Financial Inc. now owns 175,095 shares of the company’s stock worth $6,043,000 after purchasing an additional 11,561 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

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.