Q2 2024 EPS Estimates for GFL Environmental Inc. (NYSE:GFL) Increased by National Bank Financial

GFL Environmental Inc. (NYSE:GFL) – Equities researchers at National Bank Financial upped their Q2 2024 earnings estimates for GFL Environmental in a note issued to investors on Sunday, April 21st. National Bank Financial analyst R. Merer now anticipates that the company will post earnings of $0.22 per share for the quarter, up from their previous forecast of $0.21. The consensus estimate for GFL Environmental’s current full-year earnings is $0.82 per share. National Bank Financial also issued estimates for GFL Environmental’s Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.09 EPS, FY2024 earnings at $0.56 EPS and FY2025 earnings at $0.74 EPS.

Several other brokerages have also recently commented on GFL. UBS Group started coverage on shares of GFL Environmental in a research note on Wednesday, January 31st. They set a “buy” rating and a $44.00 price objective for the company. Royal Bank of Canada started coverage on shares of GFL Environmental in a research note on Monday, April 8th. They set an “outperform” rating and a $46.00 price objective for the company. Jefferies Financial Group boosted their price objective on shares of GFL Environmental from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, March 18th. TheStreet raised shares of GFL Environmental from a “d+” rating to a “c” rating in a research note on Tuesday, February 20th. Finally, Bank of America cut shares of GFL Environmental from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research note on Friday, January 19th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.83.

GFL Environmental Price Performance

Shares of NYSE:GFL opened at $33.21 on Tuesday. The company has a 50 day moving average of $34.78 and a 200 day moving average of $32.69. The stock has a market cap of $12.33 billion, a P/E ratio of -332.10 and a beta of 1.13. GFL Environmental has a 12 month low of $26.87 and a 12 month high of $39.06. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.25.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.14). The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. GFL Environmental had a net margin of 0.64% and a return on equity of 4.96%.

Institutional Investors Weigh In On GFL Environmental

Institutional investors have recently made changes to their positions in the business. Signaturefd LLC boosted its stake in shares of GFL Environmental by 48.9% in the 4th quarter. Signaturefd LLC now owns 1,178 shares of the company’s stock valued at $41,000 after purchasing an additional 387 shares in the last quarter. Oliver Lagore Vanvalin Investment Group boosted its stake in shares of GFL Environmental by 60.1% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 1,209 shares of the company’s stock valued at $42,000 after purchasing an additional 454 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of GFL Environmental by 43.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,531 shares of the company’s stock valued at $80,000 after purchasing an additional 762 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in shares of GFL Environmental in the 4th quarter valued at $110,000. Finally, Key Financial Inc boosted its stake in shares of GFL Environmental by 393.0% in the 4th quarter. Key Financial Inc now owns 3,594 shares of the company’s stock valued at $124,000 after purchasing an additional 2,865 shares in the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

GFL Environmental Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Friday, April 12th. This is a boost from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s payout ratio is currently -60.00%.

About GFL Environmental

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.