GFL Environmental (TSE:GFL) Lifted to “Strong-Buy” at Scotiabank

Scotiabank upgraded shares of GFL Environmental (TSE:GFL) to a strong-buy rating in a research note published on Friday, Zacks.com reports.

Separately, BMO Capital Markets lowered shares of GFL Environmental from a strong-buy rating to a hold rating in a research report on Tuesday, July 9th.

GFL Environmental Stock Up 2.4 %

Shares of TSE GFL opened at C$55.17 on Friday. GFL Environmental has a 12-month low of C$36.56 and a 12-month high of C$59.00. The company has a market capitalization of C$21.00 billion, a PE ratio of -26.91, a price-to-earnings-growth ratio of -0.76 and a beta of 1.03. The company has a debt-to-equity ratio of 145.69, a current ratio of 0.89 and a quick ratio of 0.57. The firm’s 50-day moving average is C$55.07 and its two-hundred day moving average is C$50.58.

GFL Environmental (TSE:GFL) last posted its quarterly earnings data on Wednesday, July 31st. The company reported C$0.29 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.28 by C$0.01. The business had revenue of C$2.06 billion during the quarter, compared to analyst estimates of C$2.06 billion. GFL Environmental had a negative net margin of 8.83% and a negative return on equity of 9.83%. Equities analysts anticipate that GFL Environmental will post 1.6545901 EPS for the current fiscal year.

GFL Environmental Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be given a dividend of $0.019 per share. This represents a $0.08 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Wednesday, October 16th. GFL Environmental’s dividend payout ratio (DPR) is -3.90%.

Insider Buying and Selling

In related news, Director Patrick Joseph Dovigi sold 291,180 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of C$39.65, for a total transaction of C$11,545,287.00. In other news, Senior Officer Mindy Beth Gilbert sold 6,698 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$54.39, for a total value of C$364,304.22. Also, Director Patrick Joseph Dovigi sold 291,180 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of C$39.65, for a total transaction of C$11,545,287.00. Over the last quarter, insiders sold 987,224 shares of company stock valued at $48,703,272. Insiders own 3.10% of the company’s stock.

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.