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

GFL Environmental (NYSE:GFL) announced its quarterly earnings data on Wednesday. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01, reports. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. GFL Environmental had a negative net margin of 8.78% and a positive return on equity of 3.32%. GFL Environmental updated its FY 2024 guidance to EPS.

GFL Environmental Trading Up 0.9 %

GFL stock traded up $0.40 on Friday, reaching $45.90. The company’s stock had a trading volume of 729,352 shares, compared to its average volume of 1,222,307. The business has a fifty day simple moving average of $40.73 and a two-hundred day simple moving average of $38.22. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $17.28 billion, a PE ratio of -30.61 and a beta of 1.15. GFL Environmental has a 12-month low of $26.87 and a 12-month high of $46.48.

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 paid a dividend of $0.014 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Wednesday, October 16th. GFL Environmental’s dividend payout ratio (DPR) is presently -4.00%.

Analysts Set New Price Targets

GFL has been the topic of several analyst reports. Scotiabank upped 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. Raymond James upped their price target on shares of GFL Environmental from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Royal Bank of Canada upped 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. Truist Financial upped their price target on shares of GFL Environmental from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday. Finally, UBS Group upped their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.30.

Hedge Funds Weigh In On GFL Environmental

Several institutional investors and hedge funds have recently modified their holdings of GFL. Truist Financial Corp boosted its position in GFL Environmental by 1.8% in the second quarter. Truist Financial Corp now owns 15,463 shares of the company’s stock worth $602,000 after purchasing an additional 268 shares during the last quarter. Signaturefd LLC boosted its position in shares of GFL Environmental by 23.5% during the 2nd quarter. Signaturefd LLC now owns 2,149 shares of the company’s stock valued at $84,000 after acquiring an additional 409 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of GFL Environmental by 51.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,358 shares of the company’s stock valued at $53,000 after acquiring an additional 459 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in GFL Environmental by 3.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,597 shares of the company’s stock valued at $838,000 after buying an additional 664 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in GFL Environmental by 13.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,795 shares of the company’s stock valued at $234,000 after buying an additional 780 shares during the period. 64.70% of the stock is currently 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.