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The latest update is out from GFL Environmental ( (TSE:GFL) ).
GFL Environmental Inc. has announced the pricing of a secondary offering by its selling shareholders, which includes entities affiliated with BC Partners Advisors L.P., Ontario Teachers’ Pension Plan Board, and HPS Investment Partners, LLC. The offering involves 16,611,295 subordinate voting shares priced at US$45.15 per share. Additionally, GFL has agreed to repurchase 1,275,000 shares for cancellation, a move unanimously approved by a special committee of independent directors. This strategic decision is aimed at optimizing the company’s capital structure and potentially enhancing shareholder value.
The most recent analyst rating on (TSE:GFL) stock is a Buy with a C$58.00 price target. To see the full list of analyst forecasts on GFL Environmental stock, see the TSE:GFL Stock Forecast page.
Spark’s Take on TSE:GFL Stock
According to Spark, TipRanks’ AI Analyst, TSE:GFL is a Neutral.
GFL Environmental’s overall stock score is driven by strong earnings call performance, with record EBITDA margins and raised guidance. However, financial performance and valuation are concerning due to high debt levels, negative profitability, and a negative P/E ratio. Technical analysis indicates bearish momentum, further impacting the score.
To see Spark’s full report on TSE:GFL stock, click here.
More about GFL Environmental
GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of solid waste management services through its platform of facilities throughout Canada and in 18 U.S. states. Across its organization, GFL has a workforce of approximately 15,000 employees.
Average Trading Volume: 471,100
Technical Sentiment Signal: Buy
Current Market Cap: C$23.49B
See more insights into GFL stock on TipRanks’ Stock Analysis page.