UBS Group Issues Positive Forecast for GFL Environmental (NYSE:GFL) Stock Price

GFL Environmental (NYSE:GFL) had its target price raised by UBS Group from $47.00 to $50.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada raised their target price 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. 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 target on the stock. Finally, Raymond James lifted their price target on shares of GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.80.

GFL Environmental Price Performance

GFL traded down $0.32 on Thursday, reaching $45.18. The company had a trading volume of 1,269,771 shares, compared to its average volume of 1,224,797. The business has a 50 day simple moving average of $40.73 and a 200 day simple moving average of $38.22. The company has a market cap of $17.01 billion, a price-to-earnings ratio of -30.31 and a beta of 1.15. 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 52-week low of $26.87 and a 52-week high of $46.48.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. As a group, sell-side analysts anticipate that GFL Environmental will post 0.61 EPS for the current year.

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were given a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s dividend payout ratio is presently -4.00%.

Hedge Funds Weigh In On GFL Environmental

Several large investors have recently modified their holdings of GFL. Capital Research Global Investors grew its stake in shares of GFL Environmental by 17.4% during the 1st quarter. Capital Research Global Investors now owns 19,851,514 shares of the company’s stock valued at $684,877,000 after purchasing an additional 2,935,811 shares during the period. Millennium Management LLC boosted its stake in GFL Environmental by 40.0% in the 2nd quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock worth $219,922,000 after purchasing an additional 1,614,182 shares during the period. Progeny 3 Inc. raised its holdings in shares of GFL Environmental by 516.3% during the 2nd quarter. Progeny 3 Inc. now owns 893,300 shares of the company’s stock worth $34,776,000 after acquiring an additional 748,350 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of GFL Environmental by 9.4% during the 1st quarter. Vanguard Group Inc. now owns 7,914,590 shares of the company’s stock worth $273,053,000 after acquiring an additional 683,120 shares in the last quarter. Finally, Maverick Capital Ltd. raised its holdings in shares of GFL Environmental by 22.1% during the 2nd quarter. Maverick Capital Ltd. now owns 3,285,656 shares of the company’s stock worth $127,911,000 after acquiring an additional 595,259 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Company Profile

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.