GFL Environmental Announces Secondary Share Offering by Shareholders

The latest update is out from GFL Environmental ( (TSE:GFL) ).

GFL Environmental Inc. announced a secondary offering of 16,611,295 subordinate voting shares by its selling shareholders, including entities affiliated with BC Partners Advisors L.P., Ontario Teachers’ Pension Plan Board, and HPS Investment Partners, LLC. The offering, managed by RBC Capital Markets, LLC and RBC Dominion Securities Inc., will not provide proceeds to GFL but will be available in all provinces and territories of Canada. This move is part of a broader strategy to manage shareholder interests and potentially impact market perceptions of GFL’s stock, although it does not directly affect the company’s operational finances.

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 Environmental Inc., headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America. It provides a comprehensive line of solid waste management services through its platform of facilities across Canada and in 18 U.S. states, employing approximately 15,000 people.

Average Trading Volume: 471,232

Technical Sentiment Signal: Buy

Current Market Cap: C$23.49B

See more data about GFL stock on TipRanks’ Stock Analysis page.