GFL Environmental (NYSE:GFL) Hits New 12-Month High – What’s Next?

GFL Environmental Inc. (NYSE:GFL)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $47.16 and last traded at $47.10, with a volume of 529165 shares traded. The stock had previously closed at $46.26.

Analysts Set New Price Targets

A number of brokerages have issued reports on GFL. Truist Financial increased their target price on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada increased their price target on shares of GFL Environmental from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. UBS Group increased their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Raymond James increased their price target on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Scotiabank increased their price target 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, November 8th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.80.

GFL Environmental Price Performance

The business’s 50 day moving average is $42.19 and its two-hundred day moving average is $39.59. The firm has a market cap of $18.53 billion, a P/E ratio of -34.78 and a beta of 1.15. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.27.

GFL Environmental (NYSE:GFL) last announced its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business 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%. As a group, analysts anticipate that GFL Environmental Inc. will post 0.59 earnings per share for the current year.

GFL Environmental Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Continuum Advisory LLC boosted its holdings in GFL Environmental by 60.6% during the third quarter. Continuum Advisory LLC now owns 673 shares of the company’s stock worth $29,000 after purchasing an additional 254 shares during the last quarter. Cape Investment Advisory Inc. boosted its holdings in GFL Environmental by 325.0% during the first quarter. Cape Investment Advisory Inc. now owns 1,275 shares of the company’s stock worth $44,000 after purchasing an additional 975 shares during the last quarter. Fifth Third Bancorp boosted its holdings in GFL Environmental by 51.1% during the second quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock worth $53,000 after purchasing an additional 459 shares during the last quarter. Spartan Fund Management Inc. purchased a new position in GFL Environmental during the third quarter worth about $60,000. Finally, Tobam boosted its holdings in GFL Environmental by 139.5% during the second quarter. Tobam now owns 1,751 shares of the company’s stock worth $68,000 after purchasing an additional 1,020 shares during the last quarter. 64.70% of the stock is currently owned by institutional investors and hedge funds.

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.