Zacks: Analysts Expect GFL Environmental Inc. (NYSE:GFL) Will Announce Earnings of $0.01 Per Share

Wall Street analysts predict that GFL Environmental Inc. (NYSE:GFL – Get Rating) will report earnings of $0.01 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for GFL Environmental’s earnings, with the lowest EPS estimate coming in at ($0.25) and the highest estimate coming in at $0.11. GFL Environmental posted earnings per share of $0.03 in the same quarter last year, which would indicate a negative year over year growth rate of 66.7%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that GFL Environmental will report full year earnings of $0.26 per share for the current year, with EPS estimates ranging from ($0.77) to $0.72. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.58 per share, with EPS estimates ranging from ($0.58) to $1.03. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover GFL Environmental.

GFL Environmental (NYSE:GFL – Get Rating) last announced its earnings results on Wednesday, February 9th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.05. GFL Environmental had a negative net margin of 9.39% and a positive return on equity of 2.80%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.13 billion.

Several brokerages have weighed in on GFL. Atb Cap Markets reiterated an “outperform” rating on shares of GFL Environmental in a research note on Thursday, March 31st. TD Securities lowered their target price on GFL Environmental from C$56.00 to C$55.00 in a research report on Tuesday, February 15th. CIBC lowered their price objective on GFL Environmental from C$58.00 to C$56.00 in a research report on Friday, February 11th. Raymond James reduced their target price on GFL Environmental from $44.00 to $41.00 and set an “outperform” rating for the company in a research note on Friday, February 11th. Finally, Zacks Investment Research downgraded GFL Environmental from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 17th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $45.45.

Shares of GFL opened at $33.47 on Wednesday. The firm has a 50-day moving average of $30.39 and a 200-day moving average of $34.89. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $11.16 billion, a PE ratio of -26.56 and a beta of 1.39. GFL Environmental has a one year low of $25.91 and a one year high of $43.71.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 29th. Investors of record on Monday, April 18th will be paid a $0.012 dividend. The ex-dividend date of this dividend is Thursday, April 14th. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01. This represents a $0.05 dividend on an annualized basis and a yield of 0.14%. GFL Environmental’s dividend payout ratio is -3.97%.

Hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley increased its holdings in GFL Environmental by 211.1% in the 2nd quarter. Morgan Stanley now owns 588,102 shares of the company’s stock worth $18,771,000 after buying an additional 399,042 shares during the period. Nordea Investment Management AB increased its stake in shares of GFL Environmental by 156.6% in the 3rd quarter. Nordea Investment Management AB now owns 10,121,540 shares of the company’s stock worth $381,684,000 after acquiring an additional 6,177,420 shares during the last quarter. SG Americas Securities LLC increased its position in shares of GFL Environmental by 1.5% during the 3rd quarter. SG Americas Securities LLC now owns 21,070 shares of the company’s stock worth $783,000 after purchasing an additional 312 shares during the last quarter. Raymond James & Associates grew its position in GFL Environmental by 1.8% in the 3rd quarter. Raymond James & Associates now owns 214,147 shares of the company’s stock valued at $7,956,000 after acquiring an additional 3,764 shares in the last quarter. Finally, Bfsg LLC acquired a new position in GFL Environmental in the 3rd quarter valued at about $1,051,000. 58.78% of the stock is owned by institutional investors and hedge funds.

GFL Environmental Company Profile (Get Rating)

GFL Environmental Inc operates as a diversified environmental services company in Canada and the United States. The company offers non-hazardous solid waste management, infrastructure and soil remediation, and liquid waste management services. Its solid waste management business line includes the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste for municipal, residential, and commercial and industrial customers.

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