Q2 2023 EPS Estimates for GFL Environmental Inc. (NYSE:GFL) Boosted by Analyst

Posted by Defense World Staff on May 4th, 2023

GFL Environmental Inc. (NYSE:GFL – Get Rating) – Equities researchers at National Bank Financial lifted their Q2 2023 EPS estimates for GFL Environmental in a note issued to investors on Sunday, April 30th. National Bank Financial analyst R. Merer now forecasts that the company will post earnings per share of $0.19 for the quarter, up from their previous estimate of $0.13. National Bank Financial has a “Outperfrom Under Weight” rating on the stock. The consensus estimate for GFL Environmental’s current full-year earnings is $0.46 per share. National Bank Financial also issued estimates for GFL Environmental’s Q3 2023 earnings at $0.27 EPS, Q4 2023 earnings at $0.06 EPS, FY2023 earnings at $0.57 EPS and FY2024 earnings at $0.60 EPS.

GFL Environmental (NYSE:GFL – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.09). GFL Environmental had a negative net margin of 7.66% and a positive return on equity of 2.99%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion.

GFL has been the topic of several other reports. BMO Capital Markets raised their price target on GFL Environmental from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Thursday, February 23rd. JPMorgan Chase & Co. raised their price target on GFL Environmental from $39.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, February 23rd. TheStreet upgraded GFL Environmental from a “d” rating to a “c-” rating in a research report on Thursday, March 2nd. Raymond James raised their price target on GFL Environmental from $38.00 to $40.00 in a research report on Tuesday. Finally, Royal Bank of Canada raised their price objective on GFL Environmental from $39.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $41.85.

GFL Environmental Stock Down 0.4 %

NYSE:GFL opened at $36.65 on Wednesday. GFL Environmental has a 12-month low of $23.10 and a 12-month high of $37.21. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $12.59 billion, a P/E ratio of -27.98 and a beta of 1.19. The stock’s fifty day simple moving average is $33.44 and its 200-day simple moving average is $30.50.

GFL Environmental Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Monday, April 17th were given a dividend of $0.013 per share. The ex-dividend date was Friday, April 14th. This represents a $0.05 dividend on an annualized basis and a yield of 0.14%. This is a boost from GFL Environmental’s previous quarterly dividend of $0.01. GFL Environmental’s dividend payout ratio is -3.82%.

Hedge Funds Weigh In On GFL Environmental

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased its stake in GFL Environmental by 13.5% in the 4th quarter. Morgan Stanley now owns 8,627,294 shares of the company’s stock valued at $252,176,000 after buying an additional 1,023,095 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in GFL Environmental by 7.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,670,175 shares of the company’s stock valued at $168,688,000 after buying an additional 442,574 shares during the last quarter. Norges Bank purchased a new stake in GFL Environmental in the 4th quarter valued at about $172,545,000. Royal Bank of Canada increased its stake in GFL Environmental by 128.0% in the 3rd quarter. Royal Bank of Canada now owns 5,617,551 shares of the company’s stock valued at $142,067,000 after buying an additional 3,153,276 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of GFL Environmental by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,119,376 shares of the company’s stock worth $129,469,000 after purchasing an additional 590,162 shares during the last quarter. Institutional investors own 63.25% of the company’s stock.

GFL Environmental Company Profile

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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 line includes the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste for municipal, residential, and commercial and industrial customers.