GFL Environmental (NYSE:GFL) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

GFL Environmental (NYSE:GFL) posted its quarterly earnings data on Wednesday. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01, reports. GFL Environmental had a negative net margin of 7.54% and a positive return on equity of 3.46%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. GFL Environmental updated its FY 2024 guidance to EPS.

GFL Environmental Trading Down 0.8 %

NYSE GFL traded down $0.38 during mid-day trading on Friday, hitting $45.12. The company’s stock had a trading volume of 1,954,631 shares, compared to its average volume of 1,052,493. GFL Environmental has a 52-week low of $26.87 and a 52-week high of $46.48. The stock’s fifty day simple moving average is $40.82 and its two-hundred day simple moving average is $38.35. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $16.99 billion, a P/E ratio of -33.92 and a beta of 1.15.

GFL Environmental Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $0.014 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $0.06 annualized dividend and a dividend yield of 0.12%. GFL Environmental’s payout ratio is currently -4.51%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GFL. Raymond James lifted their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday. Royal Bank of Canada lifted their price target on shares of GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Truist Financial lifted their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday. UBS Group boosted their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Scotiabank boosted their price objective on shares of GFL Environmental from $50.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $45.80.

Institutional Trading of GFL Environmental

A number of hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its holdings in GFL Environmental by 80.6% in the third quarter. First Horizon Advisors Inc. now owns 4,579 shares of the company’s stock worth $183,000 after purchasing an additional 2,044 shares during the period. PCJ Investment Counsel Ltd. lifted its stake in GFL Environmental by 59.0% in the third quarter. PCJ Investment Counsel Ltd. now owns 88,350 shares of the company’s stock valued at $3,524,000 after buying an additional 32,800 shares during the last quarter. Avior Wealth Management LLC bought a new stake in GFL Environmental in the third quarter valued at $82,000. Swiss National Bank lifted its stake in GFL Environmental by 0.8% in the third quarter. Swiss National Bank now owns 661,900 shares of the company’s stock valued at $26,446,000 after buying an additional 5,400 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in GFL Environmental by 93.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 40,304 shares of the company’s stock valued at $1,607,000 after buying an additional 19,520 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

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.