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

GFL Environmental Inc. (NYSE:GFL) declared a quarterly dividend on Thursday, January 2nd,Wall Street Journal reports. Shareholders of record on Monday, January 13th will be paid a dividend of 0.014 per share on Friday, January 31st. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. The ex-dividend date is Monday, January 13th.

GFL Environmental has raised its dividend payment by an average of 19.4% per year over the last three years. GFL Environmental has a dividend payout ratio of 6.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

NYSE:GFL opened at $44.63 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market cap of $17.56 billion, a price-to-earnings ratio of -33.56 and a beta of 1.16. The firm’s fifty day moving average price is $44.75 and its 200 day moving average price is $41.64. GFL Environmental has a 1-year low of $30.57 and a 1-year high of $48.87.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. On average, sell-side analysts expect that GFL Environmental will post 0.59 EPS for the current year.

Analyst Ratings Changes

GFL has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Raymond James raised their price objective on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Scotiabank boosted their price objective on shares of GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 8th. Finally, Truist Financial increased their price objective on shares of GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.80.

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.