GFL Environmental (NYSE:GFL) Price Target Raised to $56.00

GFL Environmental (NYSE:GFL) had its price objective lifted by Citigroup from $51.00 to $56.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other brokerages have also weighed in on GFL. Scotiabank raised their price target on shares of GFL Environmental from $50.00 to $52.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 5th. National Bankshares restated an “outperform” rating on shares of GFL Environmental in a research report on Tuesday, March 11th. Stifel Nicolaus upgraded shares of GFL Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. Royal Bank of Canada restated an “outperform” rating and issued a $53.00 price objective on shares of GFL Environmental in a report on Monday, February 24th. Finally, Truist Financial lifted their target price on shares of GFL Environmental from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, GFL Environmental has a consensus rating of “Moderate Buy” and an average target price of $51.38.

GFL Environmental Stock Down 7.0 %

GFL stock opened at $44.76 on Wednesday. GFL Environmental has a twelve month low of $30.57 and a twelve month high of $49.35. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27. The company has a market cap of $17.61 billion, a PE ratio of -33.65 and a beta of 1.09. The business’s 50-day simple moving average is $46.15 and its 200 day simple moving average is $44.17.

GFL Environmental (NYSE:GFL) last issued its earnings results on Monday, February 24th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.98 billion. On average, research analysts anticipate that GFL Environmental will post 0.58 earnings per share for the current year.

GFL Environmental Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 14th will be paid a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.14%. This is a boost from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s dividend payout ratio is presently -3.23%.

Hedge Funds Weigh In On GFL Environmental

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its holdings in GFL Environmental by 3,470.3% during the first quarter. Versant Capital Management Inc now owns 1,321 shares of the company’s stock worth $64,000 after purchasing an additional 1,284 shares during the last quarter. Wellington Management Group LLP acquired a new position in GFL Environmental during the fourth quarter valued at approximately $93,343,000. Lansforsakringar Fondforvaltning AB publ bought a new position in GFL Environmental in the fourth quarter valued at approximately $2,203,000. Polar Asset Management Partners Inc. increased its position in shares of GFL Environmental by 241.7% during the 4th quarter. Polar Asset Management Partners Inc. now owns 119,951 shares of the company’s stock worth $5,344,000 after purchasing an additional 84,851 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of GFL Environmental by 74.2% in the 4th quarter. Mackenzie Financial Corp now owns 231,348 shares of the company’s stock valued at $10,302,000 after buying an additional 98,539 shares during the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.

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.