Citigroup Cuts GFL Environmental (NYSE:GFL) Price Target to $53.00

GFL Environmental (NYSE:GFL) had its price objective reduced by Citigroup from $56.00 to $53.00 in a research report released on Tuesday morning,BayStreet.CA reports. Citigroup currently has a buy rating on the stock.

GFL has been the subject of a number of other research reports. Truist Financial upped their price objective on shares of GFL Environmental from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, April 2nd. Stifel Nicolaus raised GFL Environmental from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. UBS Group raised their price objective on GFL Environmental from $50.00 to $57.00 and gave the company a “buy” rating in a report on Friday, April 4th. Royal Bank of Canada restated an “outperform” rating and issued a $53.00 price objective on shares of GFL Environmental in a research report on Monday, February 24th. Finally, National Bankshares reiterated an “outperform” rating on shares of GFL Environmental in a research report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.25.

GFL Environmental Stock Down 0.1 %

GFL Environmental stock opened at $47.59 on Tuesday. GFL Environmental has a 52 week low of $30.57 and a 52 week high of $49.35. The firm has a market cap of $18.72 billion, a price-to-earnings ratio of -35.78 and a beta of 1.09. The business’s 50-day moving average price is $46.41 and its 200 day moving average price is $44.42. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27.

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

GFL Environmental Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 14th will be given a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. This is a boost from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s payout ratio is presently -3.87%.

Institutional Investors Weigh In On GFL Environmental

A number of hedge funds have recently modified their holdings of GFL. Blue Trust Inc. grew its position in shares of GFL Environmental by 124.9% in the fourth quarter. Blue Trust Inc. now owns 551 shares of the company’s stock valued at $25,000 after purchasing an additional 306 shares in the last quarter. Berbice Capital Management LLC purchased a new stake in GFL Environmental in the 4th quarter valued at $27,000. Continuum Advisory LLC increased its stake in shares of GFL Environmental by 60.6% in the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after acquiring an additional 254 shares during the last quarter. Natixis purchased a new position in shares of GFL Environmental during the 4th quarter worth $49,000. Finally, Harbor Investment Advisory LLC acquired a new position in shares of GFL Environmental during the 1st quarter valued at about $53,000. 64.70% of the stock is currently owned by institutional investors and hedge funds.

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.