GFL Environmental Inc. (NYSE:GFL) Plans $0.01 Quarterly Dividend

GFL Environmental Inc. (NYSE:GFL) announced a quarterly dividend on Thursday, January 2nd,Wall Street Journal reports. Investors of record on Monday, January 13th will be given a dividend of 0.014 per share on Friday, January 31st. This represents a $0.06 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend is Monday, January 13th.

GFL Environmental has raised its dividend by an average of 19.4% annually over the last three years. GFL Environmental has a payout ratio of 6.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect GFL Environmental to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 5.6%.

GFL Environmental Stock Performance

GFL traded up $0.01 during midday trading on Friday, reaching $44.63. The company had a trading volume of 600,243 shares, compared to its average volume of 671,471. GFL Environmental has a 12-month low of $30.57 and a 12-month high of $48.87. The business has a 50-day moving average price of $44.66 and a two-hundred day moving average price of $41.60. The stock has a market cap of $17.56 billion, a PE ratio of -33.56 and a beta of 1.16. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58.

GFL Environmental (NYSE:GFL) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. On average, sell-side analysts expect that GFL Environmental will post 0.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GFL shares. Truist Financial upped their price objective on shares of GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 8th. Raymond James raised their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. UBS Group boosted their target price on shares of GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Scotiabank raised their price target on GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, GFL Environmental currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.80.

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.