GFL Environment Inc. (NYSE:GFL – Get Rating) announced a quarterly dividend on Thursday, April 7, Zacks reports. Shareholders of record on Monday April 18 will receive a dividend of 0.012 per share on Friday April 29. This represents a dividend of $0.05 on an annualized basis and a dividend yield of 0.15%. The ex-date of this dividend is Thursday, April 14. This is a positive change from GFL Environmental’s previous quarterly dividend of $0.01.
GFL Environmental has a dividend payout ratio of 6.3%, indicating that its dividend is sufficiently covered by earnings. Analysts expect GFL Environmental to earn $0.58 per share next year, meaning the company should continue to be able to cover its $0.05 annual dividend with a future payout ratio. forecast of 8.6%.
NYSE GFL opened at $32.44 on Wednesday. The company has a debt ratio of 1.42, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $10.82 billion, a price-earnings ratio of -25.75 and a beta of 1.39. The company has a 50-day simple moving average of $30.28 and a 200-day simple moving average of $35.04. GFL Environmental has a 52 week low of $25.91 and a 52 week high of $43.71.
GFL Environmental (NYSE:GFL – Get Rating) last released its quarterly results on Wednesday, February 9. The company reported earnings per share of $0.06 for the quarter, beating Thomson Reuters consensus estimate of $0.01 by $0.05. GFL Environmental posted a negative net margin of 9.39% and a positive return on equity of 2.80%. The company posted revenue of $1.23 billion in the quarter, versus $1.13 billion expected by analysts. On average, analysts predict that GFL Environmental will post an EPS of 0.26 for the current year.
Several research companies have published reports on GFL. Zacks Investment Research downgraded GFL Environmental from a “Strong Buy” rating to a “Hold” rating in a Monday, January 17 research note. TD Securities reduced its target price on GFL Environmental from C$56.00 to C$55.00 in a Tuesday, February 15 research note. Atb Cap Markets reaffirmed an “outperform” rating on GFL Environmental shares in a Thursday, March 31 research note. CIBC lowered its price target on GFL Environmental shares from C$58.00 to C$56.00 in a report released on Friday, February 11. Finally, JPMorgan Chase & Co. launched a hedge on GFL Environmental shares in a Tuesday, March 1 report. They set an “overweight” rating and a target price of $41.00 for the company. Two research analysts gave the stock a hold rating and nine gave the company a buy rating. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $45.45.
Several hedge funds have recently changed their holdings in the company. The Manufacturers Life Insurance Company increased its stake in GFL Environmental to 84.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 6,020,536 shares of the company valued at $227,714,000 after acquiring an additional 2,752,001 shares during the period. Morgan Stanley raised its position in GFL Environmental shares by 211.1% in the second quarter. Morgan Stanley now owns 588,102 shares of the company valued at $18,771,000 after purchasing an additional 399,042 shares during the period. Nuveen Asset Management LLC acquired a new stake in the shares of GFL Environmental during the 4th quarter for a value of approximately $5,889,000. Sei Investments Co. increased its holdings of GFL Environmental shares by 37.8% during the 4th quarter. Sei Investments Co. now owns 240,236 shares of the company worth $9,094,000 after purchasing an additional 65,936 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in GFL Environmental by 188.2% in the 4th quarter. Parametric Portfolio Associates LLC now owns 70,719 shares of the company valued at $2,677,000 after acquiring an additional 46,179 shares during the period. 58.78% of the shares are currently held by institutional investors.
GFL Environmental Company Profile (Get a rating)
GFL Environmental Inc operates as a diversified environmental services company in Canada and the United States. The company offers non-hazardous solid waste management, infrastructure and soil remediation, and liquid waste management services. Its solid waste management business segment includes the collection, transportation, transfer, recycling and disposal of non-hazardous solid waste for municipal, residential, commercial and industrial customers.
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