GFL Environmental Inc. (NYSE:GFL) Plans Quarterly Dividend of $0.01

GFL Environmental Inc. (NYSE:GFL) declared a quarterly dividend on Monday, September 30th, Zacks reports. Stockholders of record on Wednesday, October 16th will be given a dividend of 0.014 per share on Thursday, October 31st. This represents a $0.06 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Wednesday, October 16th.

GFL Environmental has raised its dividend by an average of 19.4% annually over the last three years. GFL Environmental has a dividend payout ratio of 5.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect GFL Environmental to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 5.6%.

GFL Environmental Stock Up 0.5 %

GFL Environmental stock opened at $40.69 on Tuesday. The company has a 50-day simple moving average of $40.66 and a 200-day simple moving average of $37.36. The firm has a market capitalization of $15.32 billion, a P/E ratio of -27.12 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 has a one year low of $26.87 and a one year high of $43.79.

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

Analyst Ratings Changes

Several research firms recently weighed in on GFL. BMO Capital Markets downgraded shares of GFL Environmental from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $43.00 to $42.00 in a report on Tuesday, July 9th. Raymond James upped their price objective on shares of GFL Environmental from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Scotiabank began coverage on shares of GFL Environmental in a report on Friday, October 4th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Finally, Royal Bank of Canada upped their price objective on shares of GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.09.

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.