GFL Environmental Inc. (NYSE:GFL) Plans Quarterly Dividend of $0.02

GFL Environmental Inc. (NYSE:GFL) announced a quarterly dividend on Thursday, April 3rd, RTT News reports. Investors of record on Monday, April 14th will be given a dividend of 0.0154 per share on Wednesday, April 30th. This represents a $0.06 dividend on an annualized basis and a yield of 0.13%. This is a 10.0% increase from GFL Environmental’s previous quarterly dividend of $0.01.

GFL Environmental has increased its dividend by an average of 8.4% per year over the last three years. GFL Environmental has a payout ratio of 7.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect GFL Environmental to earn $1.06 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 5.7%.

GFL Environmental Stock Up 1.2 %

Shares of NYSE GFL opened at $48.34 on Thursday. The stock has a market capitalization of $19.02 billion, a P/E ratio of -36.35 and a beta of 1.16. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.58 and a quick ratio of 0.58. GFL Environmental has a one year low of $30.57 and a one year high of $49.35. The firm’s 50 day simple moving average is $45.98 and its two-hundred day simple moving average is $44.11.

GFL Environmental (NYSE:GFL) last released its earnings results on Monday, February 24th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.98 billion. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.50%. As a group, analysts expect that GFL Environmental will post 0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GFL. Royal Bank of Canada reissued an “outperform” rating and issued a $53.00 target price on shares of GFL Environmental in a research note on Monday, February 24th. Truist Financial boosted their price objective on GFL Environmental from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus upgraded shares of GFL Environmental from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. National Bankshares reaffirmed an “outperform” rating on shares of GFL Environmental in a research note on Tuesday, March 11th. Finally, Scotiabank increased their price target on shares of GFL Environmental from $50.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, GFL Environmental has an average rating of “Moderate Buy” and a consensus target price of $50.50.

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.