FY2024 EPS Estimate for GFL Environmental Lowered by Analyst

GFL Environmental Inc. (NYSE:GFL) – Equities researchers at Atb Cap Markets decreased their FY2024 earnings per share (EPS) estimates for shares of GFL Environmental in a research note issued to investors on Wednesday, January 8th. Atb Cap Markets analyst C. Murray now anticipates that the company will earn $0.67 per share for the year, down from their prior forecast of $0.69. The consensus estimate for GFL Environmental’s current full-year earnings is $0.59 per share.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, topping the consensus estimate 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 positive return on equity of 3.50% and a negative net margin of 7.54%.

A number of other equities analysts have also recently issued reports on the company. UBS Group increased their target price on GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Raymond James increased their target price on GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Truist Financial increased their target price on GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Scotiabank raised their price objective on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.80.

GFL Environmental Stock Performance

Shares of GFL Environmental stock opened at $44.18 on Friday. The company has a market capitalization of $17.38 billion, a PE ratio of -33.22 and a beta of 1.17. GFL Environmental has a 12 month low of $30.57 and a 12 month high of $48.87. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The stock’s fifty day simple moving average is $45.04 and its 200 day simple moving average is $41.88.

Institutional Investors Weigh In On GFL Environmental

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of GFL Environmental by 7.4% during the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after purchasing an additional 1,728,598 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of GFL Environmental by 2.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,817,626 shares of the company’s stock worth $471,287,000 after acquiring an additional 257,486 shares during the last quarter. Fred Alger Management LLC lifted its holdings in shares of GFL Environmental by 64.3% during the 3rd quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock worth $407,619,000 after acquiring an additional 3,999,363 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of GFL Environmental by 40.0% during the 2nd quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock worth $219,922,000 after acquiring an additional 1,614,182 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its holdings in shares of GFL Environmental by 11.3% during the 3rd quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock worth $145,889,000 after acquiring an additional 372,534 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be given a $0.014 dividend. The ex-dividend date is Monday, January 13th. This represents a $0.06 annualized dividend and a yield of 0.13%. GFL Environmental’s payout ratio is -3.76%.

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.