GFL Environmental (NYSE:GFL) Shares Gap Up – Should You Buy?

GFL Environmental Inc. (NYSE:GFL)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $44.02, but opened at $45.62. GFL Environmental shares last traded at $44.55, with a volume of 357,460 shares.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GFL shares. Raymond James boosted their price target on GFL Environmental from $47.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Truist Financial boosted their price objective on GFL Environmental from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Scotiabank lifted their price target on shares of GFL Environmental from $50.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday, November 8th. Finally, UBS Group increased their price objective on shares of GFL Environmental from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $45.80.

GFL Environmental Stock Performance

The company has a market capitalization of $17.60 billion, a P/E ratio of -33.65 and a beta of 1.17. 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 business’s fifty day simple moving average is $44.93 and its 200-day simple moving average is $41.79.

GFL Environmental (NYSE:GFL) last issued its earnings results on Wednesday, November 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. As a group, equities analysts anticipate that GFL Environmental Inc. will post 0.59 earnings per share for the current fiscal year.

GFL Environmental Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 13th will be given a dividend of $0.014 per share. The ex-dividend date of this dividend is Monday, January 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.13%. GFL Environmental’s dividend payout ratio is currently -3.76%.

Institutional Investors Weigh In On GFL Environmental

Hedge funds have recently bought and sold shares of the business. Seven Grand Managers LLC purchased a new position in shares of GFL Environmental in the 3rd quarter worth $1,994,000. Harbor Capital Advisors Inc. lifted its holdings in shares of GFL Environmental by 115.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 49,566 shares of the company’s stock valued at $1,977,000 after acquiring an additional 26,542 shares during the last quarter. FMR LLC grew its position in GFL Environmental by 7.4% in the third quarter. FMR LLC now owns 25,158,657 shares of the company’s stock worth $1,003,591,000 after acquiring an additional 1,728,598 shares in the last quarter. Copeland Capital Management LLC increased its stake in GFL Environmental by 2.2% during the third quarter. Copeland Capital Management LLC now owns 921,377 shares of the company’s stock worth $36,745,000 after acquiring an additional 19,675 shares during the last quarter. Finally, Forsta AP Fonden purchased a new stake in GFL Environmental during the third quarter valued at approximately $1,761,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.

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.