National Bank Financial Weighs in on GFL Environmental Inc.’s Q2 2024 Earnings (NYSE:GFL)

GFL Environmental Inc. (NYSE:GFL) – Equities research analysts at National Bank Financial raised their Q2 2024 earnings per share estimates for shares of GFL Environmental in a research report issued on Sunday, April 21st. National Bank Financial analyst R. Merer now anticipates that the company will earn $0.22 per share for the quarter, up from their previous estimate of $0.21. The consensus estimate for GFL Environmental’s current full-year earnings is $0.82 per share. National Bank Financial also issued estimates for GFL Environmental’s Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.09 EPS, FY2024 earnings at $0.56 EPS and FY2025 earnings at $0.74 EPS.

GFL Environmental (NYSE:GFL) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. GFL Environmental had a return on equity of 4.96% and a net margin of 0.64%.

A number of other research firms have also recently weighed in on GFL. Bank of America cut shares of GFL Environmental from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research note on Friday, January 19th. Royal Bank of Canada assumed coverage on GFL Environmental in a research note on Monday, April 8th. They set an “outperform” rating and a $46.00 price target on the stock. UBS Group began coverage on GFL Environmental in a report on Wednesday, January 31st. They issued a “buy” rating and a $44.00 price target on the stock. Jefferies Financial Group lifted their price objective on GFL Environmental from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, TheStreet raised GFL Environmental from a “d+” rating to a “c” rating in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.83.

GFL Environmental Trading Down 0.2 %

NYSE GFL opened at $33.10 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $12.29 billion, a P/E ratio of -331.00 and a beta of 1.13. GFL Environmental has a 52-week low of $26.87 and a 52-week high of $39.06. The firm has a 50-day moving average price of $34.81 and a 200 day moving average price of $32.69.

GFL Environmental Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.17%. This is a boost from GFL Environmental’s previous quarterly dividend of $0.01. The ex-dividend date is Friday, April 12th. GFL Environmental’s dividend payout ratio (DPR) is presently -60.00%.

Hedge Funds Weigh In On GFL Environmental

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its position in shares of GFL Environmental by 16.3% in the fourth quarter. Capital Research Global Investors now owns 16,915,703 shares of the company’s stock worth $583,761,000 after purchasing an additional 2,365,355 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in GFL Environmental by 3.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,022,382 shares of the company’s stock worth $449,402,000 after buying an additional 478,412 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of GFL Environmental by 16.6% during the 4th quarter. Nordea Investment Management AB now owns 7,384,983 shares of the company’s stock valued at $256,259,000 after buying an additional 1,053,530 shares during the period. Vanguard Group Inc. grew its holdings in shares of GFL Environmental by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 7,231,470 shares of the company’s stock valued at $249,558,000 after acquiring an additional 77,156 shares in the last quarter. Finally, Fred Alger Management LLC increased its stake in shares of GFL Environmental by 6.2% in the third quarter. Fred Alger Management LLC now owns 6,050,953 shares of the company’s stock worth $192,178,000 after acquiring an additional 355,191 shares during the last quarter. Institutional investors and hedge funds 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.