Citigroup Issues Positive Forecast for GFL Environmental (NYSE:GFL) Stock Price

GFL Environmental (NYSE:GFL) had its price objective hoisted by Citigroup from $58.00 to $61.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on GFL. National Bank Financial raised shares of GFL Environmental to a “strong-buy” rating in a report on Monday, May 26th. Royal Bank Of Canada increased their price target on shares of GFL Environmental from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. JPMorgan Chase & Co. started coverage on shares of GFL Environmental in a report on Friday, May 23rd. They issued a “neutral” rating and a $54.00 price target on the stock. Truist Financial increased their price target on shares of GFL Environmental from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Finally, Scotiabank increased their price target on shares of GFL Environmental from $56.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $58.29.

GFL Environmental Trading Up 0.6%

Shares of GFL Environmental stock opened at $46.66 on Wednesday. GFL Environmental has a 12-month low of $38.78 and a 12-month high of $52.00. The company has a market cap of $16.95 billion, a price-to-earnings ratio of 7.35 and a beta of 1.11. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89. The company’s 50-day moving average price is $48.84 and its 200-day moving average price is $48.65.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. GFL Environmental had a net margin of 48.53% and a return on equity of 3.71%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the firm posted $0.29 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. GFL Environmental has set its FY 2025 guidance at EPS. On average, equities analysts expect that GFL Environmental will post 0.58 earnings per share for the current fiscal year.

GFL Environmental Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 14th were given a dividend of $0.0154 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Monday, July 14th. GFL Environmental’s payout ratio is presently 0.94%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Berbice Capital Management LLC purchased a new position in GFL Environmental during the 2nd quarter valued at $25,000. Millstone Evans Group LLC lifted its position in GFL Environmental by 147.8% during the first quarter. Millstone Evans Group LLC now owns 560 shares of the company’s stock valued at $27,000 after buying an additional 334 shares during the period. Bessemer Group Inc. bought a new stake in shares of GFL Environmental during the 1st quarter valued at $28,000. LRI Investments LLC bought a new stake in shares of GFL Environmental during the 1st quarter valued at $34,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of GFL Environmental by 43.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 727 shares of the company’s stock valued at $37,000 after buying an additional 219 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.