FY2024 Earnings Forecast for GFL Issued By Scotiabank

GFL Environmental Inc. (NYSE:GFL) – Analysts at Scotiabank issued their FY2024 earnings estimates for GFL Environmental in a research note issued on Wednesday, January 8th. Scotiabank analyst K. Gupta anticipates that the company will post earnings per share of $0.63 for the year. Scotiabank has a “Sector Outperform” rating and a $51.00 price objective on the stock. The consensus estimate for GFL Environmental’s current full-year earnings is $0.59 per share. Scotiabank also issued estimates for GFL Environmental’s FY2025 earnings at $1.21 EPS and FY2026 earnings at $1.55 EPS.

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. GFL Environmental had a positive return on equity of 3.50% and a negative net margin of 7.54%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion.

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

GFL Environmental Price Performance

Shares of GFL Environmental stock opened at $43.65 on Monday. 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 has a twelve month low of $30.57 and a twelve month high of $48.87. The company has a 50-day simple moving average of $45.13 and a two-hundred day simple moving average of $41.98. The stock has a market capitalization of $17.17 billion, a price-to-earnings ratio of -32.82 and a beta of 1.17.

Institutional Trading of GFL Environmental

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of GFL Environmental by 7.4% during 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. Massachusetts Financial Services Co. MA increased its stake in shares of 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 worth $471,287,000 after purchasing an additional 257,486 shares during the last quarter. Fred Alger Management LLC raised its stake in shares of GFL Environmental by 64.3% in the third quarter. Fred Alger Management LLC now owns 10,221,130 shares of the company’s stock valued at $407,619,000 after buying an additional 3,999,363 shares during the period. Millennium Management LLC raised its stake in GFL Environmental by 40.0% in the 2nd quarter. Millennium Management LLC now owns 5,649,169 shares of the company’s stock valued at $219,922,000 after acquiring an additional 1,614,182 shares during the period. Finally, Maverick Capital Ltd. raised its position in shares of GFL Environmental by 11.3% in the third quarter. Maverick Capital Ltd. now owns 3,658,190 shares of the company’s stock valued at $145,889,000 after purchasing an additional 372,534 shares during the period. 64.70% of the stock is owned by institutional investors.

GFL Environmental Dividend Announcement

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

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.