GFL Environmental Inc. Forecasted to Post Q2 2024 Earnings of $0.22 Per Share (NYSE:GFL)

GFL Environmental Inc. (NYSE:GFL) – Equities research analysts at National Bank Financial raised their Q2 2024 earnings per share (EPS) estimates for GFL Environmental in a research 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 prior forecast of $0.21. The consensus estimate for GFL Environmental’s current full-year earnings is $0.81 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.

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

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets lifted their price target on GFL Environmental from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. TheStreet upgraded GFL Environmental from a “d+” rating to a “c” rating in a research report on Tuesday, February 20th. Jefferies Financial Group raised their price objective on GFL Environmental from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Royal Bank of Canada initiated coverage on GFL Environmental in a research report on Monday, April 8th. They set an “outperform” rating and a $46.00 price objective for the company. Finally, UBS Group initiated coverage on GFL Environmental in a research report on Wednesday, January 31st. They set a “buy” rating and a $44.00 price objective for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, GFL Environmental has an average rating of “Moderate Buy” and a consensus price target of $42.83.

GFL Environmental Trading Down 1.1 %

Shares of GFL opened at $32.86 on Tuesday. The business’s 50-day moving average price is $34.72 and its 200 day moving average price is $32.69. The stock has a market capitalization of $12.20 billion, a P/E ratio of -328.60 and a beta of 1.13. GFL Environmental has a 1-year low of $26.87 and a 1-year 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.

Institutional Investors Weigh In On GFL Environmental

Institutional investors have recently made changes to their positions in the company. IFP Advisors Inc lifted its holdings in GFL Environmental by 18,619.0% in the 3rd quarter. IFP Advisors Inc now owns 11,793 shares of the company’s stock worth $375,000 after purchasing an additional 11,730 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its holdings in GFL Environmental by 2.7% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 227,596 shares of the company’s stock worth $7,228,000 after purchasing an additional 6,000 shares during the last quarter. Copeland Capital Management LLC lifted its holdings in GFL Environmental by 1.1% in the 3rd quarter. Copeland Capital Management LLC now owns 906,844 shares of the company’s stock worth $28,801,000 after purchasing an additional 9,543 shares during the last quarter. Raymond James & Associates lifted its holdings in GFL Environmental by 4.5% in the 3rd quarter. Raymond James & Associates now owns 396,908 shares of the company’s stock worth $12,606,000 after purchasing an additional 17,048 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in GFL Environmental by 35.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 12,632 shares of the company’s stock worth $401,000 after purchasing an additional 3,313 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

GFL Environmental Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.17%. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Friday, April 12th. GFL Environmental’s payout ratio is currently -60.00%.

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.