GFL Environmental’s (GFL) Buy Rating Reiterated at TD Cowen

TD Cowen reiterated their buy rating on shares of GFL Environmental (NYSE:GFL) in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a $65.00 price objective on the stock.

Several other equities research analysts also recently weighed in on GFL. JPMorgan Chase & Co. increased their price target on GFL Environmental from $40.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, July 16th. Barclays started coverage on GFL Environmental in a report on Wednesday, September 2nd. They set an “overweight” rating and a $58.00 price objective for the company. Scotiabank reaffirmed an “outperform” rating on shares of GFL Environmental in a research report on Wednesday, September 2nd. Citigroup set a $51.00 price objective on GFL Environmental and gave the company a “buy” rating in a research report on Monday, July 6th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of GFL Environmental in a research note on Monday, August 31st. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.44.

GFL Environmental Price Performance

GFL stock opened at $42.74 on Friday. The stock has a market cap of $15.42 billion, a PE ratio of -80.64, a P/E/G ratio of 2.78 and a beta of 0.68. GFL Environmental has a 12 month low of $33.33 and a 12 month high of $48.14. The company has a 50-day moving average price of $41.01 and a 200 day moving average price of $39.81. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 1.34.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.03). The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.33 billion. GFL Environmental had a positive return on equity of 4.14% and a negative net margin of 3.28%.The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. Equities research analysts anticipate that GFL Environmental will post 0.65 earnings per share for the current year.

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 13th were paid a dividend of $0.0169 per share. This represents a $0.07 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, July 13th. GFL Environmental’s payout ratio is currently -13.21%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new stake in GFL Environmental during the 4th quarter valued at $25,000. Integrated Wealth Concepts LLC bought a new position in shares of GFL Environmental during the 2nd quarter worth $31,000. Whipplewood Advisors LLC purchased a new position in shares of GFL Environmental during the first quarter valued at $32,000. Sunbelt Securities Inc. purchased a new position in shares of GFL Environmental during the third quarter valued at $33,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of GFL Environmental by 43.1% in the second quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after acquiring an additional 219 shares in the last quarter. Institutional investors own 64.70% of the company’s stock.

About GFL Environmental

GFL Environmental Inc is an environmental services company that provides waste management and infrastructure services to residential, commercial, industrial, municipal and institutional customers. Its operations include the collection, transfer, processing, recycling and disposal of solid waste, as well as the management of organic materials and other waste streams.

The company also provides environmental and infrastructure-related services, including soil remediation, dewatering, excavation, demolition and other site services.