What is Scotiabank’s Estimate for GFL FY2024 Earnings?

GFL Environmental Inc. (NYSE:GFL) – Analysts at Scotiabank issued their FY2024 earnings estimates for GFL Environmental in a research note issued on Wednesday, January 8th. Scotiabank analyst K. Gupta forecasts that the company will post earnings of $0.63 per share for the year. Scotiabank has a “Sector Outperform” rating and a $51.00 price objective on the stock. The consensus estimate for GFL Environmental’s current full-year earnings is $0.59 per share. Scotiabank also issued estimates for GFL Environmental’s FY2025 earnings at $1.21 EPS and FY2026 earnings at $1.55 EPS.

Several other research analysts have also recently issued reports on the stock. Truist Financial raised their target price 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. Raymond James lifted their price objective on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, UBS Group upped their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.80.

GFL Environmental Stock Down 1.3 %

Shares of NYSE:GFL opened at $43.65 on Monday. The stock’s 50-day moving average price is $45.13 and its 200-day moving average price is $41.98. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. GFL Environmental has a 12-month low of $30.57 and a 12-month high of $48.87. The stock has a market capitalization of $17.17 billion, a P/E ratio of -32.82 and a beta of 1.17.

GFL Environmental (NYSE:GFL) last released its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion.

GFL Environmental Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Continuum Advisory LLC lifted 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 purchasing an additional 254 shares during the period. Spartan Fund Management Inc. bought a new position in GFL Environmental in the 3rd quarter worth approximately $60,000. Avior Wealth Management LLC purchased a new position in GFL Environmental during the third quarter valued at $82,000. US Bancorp DE grew its position in shares of GFL Environmental by 51.5% during the third quarter. US Bancorp DE now owns 2,569 shares of the company’s stock valued at $102,000 after purchasing an additional 873 shares in the last quarter. Finally, Signaturefd LLC increased its stake in GFL Environmental by 30.7% in the 3rd quarter. Signaturefd LLC now owns 2,808 shares of the company’s stock worth $112,000 after acquiring an additional 659 shares during the last quarter. Institutional investors own 64.70% of the company’s stock.

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.