Atb Cap Markets Has Negative Outlook of GFL FY2024 Earnings

GFL Environmental Inc. (NYSE:GFL) – Stock analysts at Atb Cap Markets reduced their FY2024 earnings estimates for GFL Environmental in a research note issued to investors on Wednesday, January 8th. Atb Cap Markets analyst C. Murray now expects that the company will earn $0.67 per share for the year, down from their prior estimate of $0.69. The consensus estimate for GFL Environmental’s current full-year earnings is $0.59 per share.

GFL Environmental (NYSE:GFL) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The firm 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%.

Several other analysts have also recently weighed in on GFL. UBS Group raised their price target on GFL Environmental from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Truist Financial raised their target price on shares of GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Scotiabank boosted 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 note on Friday, November 8th. Finally, Raymond James lifted their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, GFL Environmental currently has an average rating of “Moderate Buy” and a consensus target price of $45.80.

GFL Environmental Trading Up 2.8 %

Shares of GFL stock opened at $44.75 on Friday. GFL Environmental has a 52-week low of $30.57 and a 52-week high of $48.87. The business’s fifty day moving average is $44.99 and its 200 day moving average is $41.81. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market capitalization of $17.60 billion, a PE ratio of -33.65 and a beta of 1.17.

Institutional Investors Weigh In On GFL Environmental

Several institutional investors have recently bought and sold shares of GFL. FMR LLC boosted its position in GFL Environmental by 7.4% during the 3rd quarter. FMR LLC now owns 25,158,657 shares of the company’s stock valued at $1,003,591,000 after buying an additional 1,728,598 shares during the period. Massachusetts Financial Services Co. MA grew its position in GFL Environmental by 2.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,817,626 shares of the company’s stock valued at $471,287,000 after purchasing an additional 257,486 shares during the last quarter. Fred Alger Management LLC increased its position in shares of GFL Environmental by 64.3% during the third quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock valued at $407,619,000 after acquiring an additional 3,999,363 shares in the last quarter. Millennium Management LLC increased its holdings in GFL Environmental by 40.0% in the 2nd quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock worth $219,922,000 after buying an additional 1,614,182 shares in the last quarter. Finally, Maverick Capital Ltd. raised its stake in GFL Environmental by 11.3% during the 3rd quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock valued at $145,889,000 after buying an additional 372,534 shares during the last quarter. 64.70% of the stock is currently owned by hedge funds and other institutional investors.

GFL Environmental Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 13th will be paid a $0.014 dividend. This represents a $0.06 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Monday, January 13th. GFL Environmental’s dividend payout ratio is presently -3.76%.

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.