GFL Environmental (NYSE:GFL) Hits New 52-Week Low – Time to Sell?

GFL Environmental Inc. (NYSE:GFL) reached a new 52-week low on Friday . The company traded as low as $35.47 and last traded at $35.5790, with a volume of 605078 shares. The stock had previously closed at $35.96.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GFL shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of GFL Environmental in a research note on Wednesday, May 13th. Wolfe Research started coverage on shares of GFL Environmental in a research note on Friday, March 13th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. cut shares of GFL Environmental from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $49.00 to $42.00 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 note on Friday, May 15th. Finally, Scotiabank reduced their price objective on shares of GFL Environmental from $56.00 to $52.00 and set a “sector outperform” rating on the stock in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, GFL Environmental has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

GFL Environmental Trading Down 0.7%

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 company has a market cap of $12.78 billion, a P/E ratio of 111.58, a PEG ratio of 2.85 and a beta of 0.78. The firm’s 50 day moving average is $40.13 and its two-hundred day moving average is $42.44.

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

GFL Environmental Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 13th were given a dividend of $0.0169 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.2%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, April 13th. GFL Environmental’s payout ratio is currently 21.88%.

Institutional Trading of GFL Environmental

A number of institutional investors have recently bought and sold shares of the company. Capital Research Global Investors boosted its position in GFL Environmental by 17.6% during the fourth quarter. Capital Research Global Investors now owns 21,863,632 shares of the company’s stock valued at $939,043,000 after acquiring an additional 3,267,936 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of GFL Environmental by 9.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,201,976 shares of the company’s stock valued at $481,125,000 after purchasing an additional 977,344 shares during the period. Vanguard Group Inc. raised its holdings in shares of GFL Environmental by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 11,156,675 shares of the company’s stock valued at $479,255,000 after purchasing an additional 97,020 shares during the period. Pictet Asset Management Holding SA raised its holdings in shares of GFL Environmental by 2.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 8,511,198 shares of the company’s stock valued at $365,595,000 after purchasing an additional 185,169 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of GFL Environmental by 40.8% during the fourth quarter. Nordea Investment Management AB now owns 6,673,954 shares of the company’s stock valued at $290,083,000 after purchasing an additional 1,932,442 shares during the period. Institutional investors own 64.70% of the company’s stock.

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.