National Bank Financial Comments on GFL Environmental Inc.’s Q3 2024 Earnings (NYSE:GFL)

GFL Environmental Inc. (NYSE:GFL) – Research analysts at National Bank Financial reduced their Q3 2024 earnings per share estimates for shares of GFL Environmental in a report released on Thursday, August 1st. National Bank Financial analyst R. Merer now anticipates that the company will post earnings per share of $0.18 for the quarter, down from their prior forecast of $0.20. The consensus estimate for GFL Environmental’s current full-year earnings is $0.71 per share. National Bank Financial also issued estimates for GFL Environmental’s Q4 2024 earnings at $0.04 EPS and FY2024 earnings at $0.43 EPS.

Several other equities research analysts have also commented on GFL. BMO Capital Markets lowered shares of GFL Environmental from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $43.00 to $42.00 in a research report on Tuesday, July 9th. TD Cowen upped their target price on shares of GFL Environmental from $42.00 to $43.00 and gave the company a “buy” rating in a report on Monday, May 6th. 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. Finally, Raymond James boosted their price objective on shares of GFL Environmental from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.64.

GFL Environmental Stock Up 1.0 %

GFL Environmental stock opened at $39.06 on Monday. The stock has a market cap of $14.70 billion, a PE ratio of 37.20 and a beta of 1.16. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a fifty day moving average of $37.97 and a 200 day moving average of $35.41. GFL Environmental has a one year low of $26.87 and a one year high of $40.71.

GFL Environmental Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 15th were issued a $0.014 dividend. This represents a $0.06 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Monday, July 15th. GFL Environmental’s dividend payout ratio is currently 5.71%.

Institutional Investors Weigh In On GFL Environmental

Institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. boosted its stake in shares of GFL Environmental by 5.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 13,322 shares of the company’s stock worth $460,000 after acquiring an additional 690 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in GFL Environmental by 2.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 20,803 shares of the company’s stock valued at $712,000 after buying an additional 575 shares in the last quarter. Schwartz Investment Counsel Inc. raised its position in shares of GFL Environmental by 2.6% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 233,596 shares of the company’s stock valued at $8,061,000 after buying an additional 6,000 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of GFL Environmental in the fourth quarter worth $457,000. Finally, Mackenzie Financial Corp boosted its position in shares of GFL Environmental by 3.4% during the fourth quarter. Mackenzie Financial Corp now owns 189,390 shares of the company’s stock worth $6,537,000 after acquiring an additional 6,216 shares during the last quarter. Hedge funds and other institutional investors own 64.70% of the company’s stock.

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.