GFL Environmental (NYSE:GFL) Given New $56.00 Price Target at Royal Bank of Canada

GFL Environmental (NYSE:GFL) had its price target raised by Royal Bank of Canada from $53.00 to $56.00 in a research note released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts also recently issued reports on GFL. Scotiabank lifted their price target on shares of GFL Environmental from $54.00 to $56.00 and gave the company a “sector outperform” rating in a research report on Monday. Truist Financial lifted their target price on GFL Environmental from $54.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, April 2nd. UBS Group upped their price objective on shares of GFL Environmental from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, April 4th. National Bankshares reissued an “outperform” rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Finally, Stifel Nicolaus upgraded shares of GFL Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.75.

GFL Environmental Price Performance

NYSE:GFL opened at $51.56 on Monday. GFL Environmental has a 12-month low of $30.57 and a 12-month high of $52.00. The firm has a market capitalization of $20.28 billion, a price-to-earnings ratio of -38.77 and a beta of 1.08. The stock’s 50 day moving average price is $47.48 and its two-hundred day moving average price is $45.47. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.52 billion. The firm’s revenue was down 13.4% compared to the same quarter last year. On average, analysts anticipate that GFL Environmental will post 0.58 earnings per share for the current year.

GFL Environmental Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th were given a dividend of $0.0154 per share. This represents a $0.06 annualized dividend and a yield of 0.12%. This is an increase from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s payout ratio is currently 1.23%.

Hedge Funds Weigh In On GFL Environmental

Institutional investors have recently made changes to their positions in the company. Allianz Asset Management GmbH grew its holdings in shares of GFL Environmental by 5.7% in the first quarter. Allianz Asset Management GmbH now owns 81,643 shares of the company’s stock valued at $3,943,000 after purchasing an additional 4,419 shares during the period. SRH Advisors LLC raised its position in GFL Environmental by 50.0% in the 1st quarter. SRH Advisors LLC now owns 3,000 shares of the company’s stock valued at $145,000 after purchasing an additional 1,000 shares in the last quarter. Millstone Evans Group LLC lifted its position in shares of GFL Environmental by 147.8% during the 1st quarter. Millstone Evans Group LLC now owns 560 shares of the company’s stock worth $27,000 after purchasing an additional 334 shares during the last quarter. Triasima Portfolio Management inc. acquired a new position in GFL Environmental in the first quarter valued at approximately $3,225,000. Finally, TimesSquare Capital Management LLC boosted its stake in GFL Environmental by 43.4% in the first quarter. TimesSquare Capital Management LLC now owns 1,014,099 shares of the company’s stock valued at $48,991,000 after acquiring an additional 306,809 shares in the last quarter. 64.70% of the stock is owned by hedge funds and other institutional investors.

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.