Scotiabank Cuts GFL Environmental (NYSE:GFL) Price Target to $50.00

GFL Environmental (NYSE:GFL) had its price objective cut by Scotiabank from $51.00 to $50.00 in a report issued on Monday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

Several other research analysts also recently commented on the company. Citigroup began coverage on GFL Environmental in a research note on Monday. They issued a “buy” rating and a $53.00 price objective on the stock. Raymond James lifted their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 8th. UBS Group increased their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Truist Financial lifted their target price on shares of GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.50.

GFL Environmental Stock Performance

GFL opened at $43.40 on Monday. GFL Environmental has a 12-month low of $30.57 and a 12-month high of $48.87. The company has a market cap of $17.07 billion, a price-to-earnings ratio of -32.63 and a beta of 1.17. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.27. The company’s 50 day moving average is $44.68 and its 200 day moving average is $42.23.

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

GFL Environmental Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 13th will be issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 0.13%. The ex-dividend date is Monday, January 13th. GFL Environmental’s dividend payout ratio (DPR) is presently -3.76%.

Institutional Investors Weigh In On GFL Environmental

Large investors have recently made changes to their positions in the company. Seven Grand Managers LLC purchased a new position in GFL Environmental during the 3rd quarter valued at approximately $1,994,000. Harbor Capital Advisors Inc. grew its holdings in shares of GFL Environmental by 115.3% in the third quarter. Harbor Capital Advisors Inc. now owns 49,566 shares of the company’s stock valued at $1,977,000 after purchasing an additional 26,542 shares in the last quarter. FMR LLC increased its position in GFL Environmental by 7.4% in the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after purchasing an additional 1,728,598 shares during the last quarter. Copeland Capital Management LLC raised its stake in GFL Environmental by 2.2% during the third quarter. Copeland Capital Management LLC now owns 921,377 shares of the company’s stock valued at $36,745,000 after purchasing an additional 19,675 shares in the last quarter. Finally, Forsta AP Fonden purchased a new stake in GFL Environmental during the third quarter valued at $1,761,000. 64.70% of the stock is owned by institutional investors.

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.