FY2024 EPS Forecast for GFL Environmental Lowered by Analyst

GFL Environmental Inc. (NYSE:GFL) – Equities researchers at Atb Cap Markets reduced their FY2024 EPS estimates for GFL Environmental in a research report issued on Wednesday, January 8th. Atb Cap Markets analyst C. Murray now expects that the company will post earnings of $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 earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.49 billion.

GFL has been the topic of several other research reports. UBS Group boosted their target price on 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 boosted their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Scotiabank lifted their target price on GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, November 8th. Finally, Truist Financial upped their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a report 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.com, GFL Environmental currently has an average rating of “Moderate Buy” and a consensus target price of $45.80.

GFL Environmental Stock Performance

Shares of NYSE:GFL opened at $44.75 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’s 50 day simple moving average is $44.99 and its 200 day simple moving average is $41.81. GFL Environmental has a fifty-two week low of $30.57 and a fifty-two week high of $48.87. The company has a market capitalization of $17.60 billion, a price-to-earnings ratio of -33.65 and a beta of 1.17.

GFL Environmental Dividend Announcement

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

Institutional Investors Weigh In On GFL Environmental

A number of hedge funds have recently added to or reduced their stakes in GFL. Continuum Advisory LLC grew its position in shares of GFL Environmental by 60.6% during the 3rd quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after buying an additional 254 shares during the period. Spartan Fund Management Inc. acquired a new stake in shares of GFL Environmental in the 3rd quarter worth about $60,000. Avior Wealth Management LLC purchased a new stake in shares of GFL Environmental in the third quarter valued at about $82,000. Andra AP fonden bought a new stake in GFL Environmental during the second quarter worth $90,000. Finally, US Bancorp DE boosted its stake in GFL Environmental by 51.5% in the third quarter. US Bancorp DE now owns 2,569 shares of the company’s stock valued at $102,000 after acquiring an additional 873 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors.

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.