Scotiabank Reduces Earnings Estimates for GFL Environmental

GFL Environmental Inc. (NYSE:GFL) – Investment analysts at Scotiabank dropped their FY2027 earnings estimates for GFL Environmental in a research note issued to investors on Thursday, February 19th. Scotiabank analyst K. Gupta now expects that the company will post earnings of $1.02 per share for the year, down from their prior forecast of $1.11. Scotiabank has a “Sector Outperform” rating and a $56.00 price objective on the stock. The consensus estimate for GFL Environmental’s current full-year earnings is $0.58 per share.

Several other research firms also recently commented on GFL. Barclays upped their target price on GFL Environmental from $62.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. UBS Group upped their price objective on GFL Environmental from $58.00 to $60.00 and gave the company a “buy” rating in a report on Monday, November 10th. JPMorgan Chase & Co. lifted their target price on GFL Environmental from $46.75 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Citigroup reduced their target price on shares of GFL Environmental from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Finally, The Goldman Sachs Group began coverage on shares of GFL Environmental in a research report on Monday, November 24th. They set a “neutral” rating and a $50.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $56.67.

GFL Environmental Stock Down 1.9%

GFL Environmental stock opened at $42.64 on Friday. The company’s 50-day moving average price is $43.10 and its two-hundred day moving average price is $45.36. The company has a quick ratio of 0.69, a current ratio of 0.58 and a debt-to-equity ratio of 1.05. The stock has a market cap of $15.31 billion, a P/E ratio of 6.27, a P/E/G ratio of 3.30 and a beta of 0.88. GFL Environmental has a twelve month low of $40.83 and a twelve month high of $52.00.

GFL Environmental (NYSE:GFL) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.12. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.67 billion. GFL Environmental had a net margin of 56.61% and a return on equity of 3.66%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.58) earnings per share.

Hedge Funds Weigh In On GFL Environmental

Several hedge funds have recently bought and sold shares of the company. Skyview Financial Group LLC acquired a new position in shares of GFL Environmental in the 4th quarter valued at approximately $490,000. Mackenzie Financial Corp increased its stake in GFL Environmental by 82.0% in the fourth quarter. Mackenzie Financial Corp now owns 563,108 shares of the company’s stock valued at $24,545,000 after acquiring an additional 253,764 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in GFL Environmental during the fourth quarter valued at approximately $5,938,000. Wellington Management Group LLP lifted its stake in GFL Environmental by 32.7% during the fourth quarter. Wellington Management Group LLP now owns 2,668,607 shares of the company’s stock worth $114,619,000 after purchasing an additional 657,027 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of GFL Environmental in the 4th quarter valued at $4,026,000. 64.70% of the stock is owned by institutional investors.

GFL Environmental Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Tuesday, January 13th were given a dividend of $0.0154 per share. The ex-dividend date of this dividend was Tuesday, January 13th. This represents a $0.06 annualized dividend and a yield of 0.1%. GFL Environmental’s dividend payout ratio is currently 0.88%.

About GFL Environmental

GFL Environmental Inc is a leading North American provider of diversified environmental services, offering comprehensive solutions across solid waste management, liquid waste management, soil remediation and infrastructure services. The company’s core business activities include residential, commercial and industrial waste collection, recycling, composting and landfill management. In addition to traditional waste services, GFL provides specialized liquid waste hauling, treatment and disposal services as well as environmental consulting to support industrial and municipal clients in meeting regulatory and sustainability goals.

Founded in 2007 by entrepreneur Patrick Dovigi, GFL Environmental has pursued an aggressive growth strategy driven by strategic acquisitions and organic expansion.