GFL Environmental (NYSE:GFL) Shares Gap Up – What’s Next?

GFL Environmental Inc. (NYSE:GFL)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $37.48, but opened at $39.77. GFL Environmental shares last traded at $40.0770, with a volume of 1,288,093 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of GFL Environmental in a report on Wednesday, May 13th. Citigroup dropped their price objective on GFL Environmental from $55.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings cut shares of GFL Environmental from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Zacks Research downgraded GFL Environmental from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of GFL Environmental from $42.00 to $40.00 and set an “underweight” rating on the stock in a research report on Monday. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, GFL Environmental presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.78.

GFL Environmental Price Performance

The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.32. The stock has a market cap of $14.47 billion, a PE ratio of 126.45, a price-to-earnings-growth ratio of 2.91 and a beta of 0.70. The company’s fifty day moving average is $36.58 and its 200 day moving average is $40.53.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. GFL Environmental had a net margin of 3.09% and a return on equity of 4.53%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company earned ($0.09) EPS. The firm’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that GFL Environmental Inc. will post 0.54 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 13th will be issued a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, July 13th. GFL Environmental’s dividend payout ratio (DPR) is presently 18.75%.

Institutional Investors Weigh In On GFL Environmental

Several hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in shares of GFL Environmental by 43.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after buying an additional 219 shares during the last quarter. Advisory Services Network LLC increased its holdings in GFL Environmental by 4.1% in the third quarter. Advisory Services Network LLC now owns 6,537 shares of the company’s stock valued at $310,000 after buying an additional 256 shares during the last quarter. Tobam raised its position in shares of GFL Environmental by 10.5% during the 4th quarter. Tobam now owns 3,079 shares of the company’s stock valued at $132,000 after acquiring an additional 293 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of GFL Environmental by 45.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 976 shares of the company’s stock worth $46,000 after buying an additional 304 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its stake in GFL Environmental by 6.8% in the second quarter. Engineers Gate Manager LP now owns 5,187 shares of the company’s stock valued at $262,000 after acquiring an additional 331 shares during the period. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

GFL Environmental Company Profile

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.