GFL Environmental Inc. [NYSE: GFL] closed the trading session at $36.08. The company report on February 29, 2024 at 6:55 AM that GFL Environmental Inc. Announces Upsize and Pricing of Secondary Offering by Selling Shareholders.
GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) (“GFL” or the “Company”) today announced the pricing of the previously announced secondary offering (the “Offering”) by BCEC-GFL Borrower (Cayman) LP, Ontario Teachers’ Pension Plan Board, GFL Borrower II (Cayman) LP, Poole Private Capital, LLC and entities affiliated with HPS Investment Partners, LLC (collectively, the “Selling Shareholders”) of 21,000,000 subordinate voting shares (the “Shares”), which represents an increase of 4,000,000 Shares from the previously announced offering size, at the public offering price of US$34.45 per Share. GFL will not receive any proceeds from the Offering. RBC Capital Markets, LLC and RBC Dominion Securities Inc. will act as underwriters for the Offering in the United States and Canada, respectively.
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The Shares issued pursuant to the Offering will be offered in all provinces and territories of Canada by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus (the “Base Shelf Prospectus”). The Company has filed a registration statement on Form F-10 (the “Form F-10”) and will file the Prospectus Supplement with the U.S. Securities and Exchange Commission (the “SEC”) in accordance with the multi-jurisdictional disclosure system established between Canada and the United States.
The stocks have a year to date performance of 4.55 percent and weekly performance of 2.27 percent. The stock has been moved at 11.26 percent over the last six months. The stock has performed 6.06 percent around the most recent 30 days and changed 31.44 percent over the most recent 3-months.
If compared to the average trading volume of 1.28M shares, GFL reached to a volume of 4457255 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about GFL Environmental Inc. [GFL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GFL shares is $40.56 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GFL stock is a recommendation set at 1.53. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
UBS have made an estimate for GFL Environmental Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 31, 2024. The new note on the price target was released on January 19, 2024, representing the official price target for GFL Environmental Inc. stock.
The Average True Range (ATR) for GFL Environmental Inc. is set at 1.00, with the Price to Sales ratio for GFL stock in the period of the last 12 months amounting to 2.40. The Price to Book ratio for the last quarter was 2.46, with the Price to Cash per share for the same quarter was set at 0.28.
GFL stock trade performance evaluation
GFL Environmental Inc. [GFL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.27. With this latest performance, GFL shares gained by 6.06% in over the last four-week period, additionally plugging by 11.26% over the last 6 months – not to mention a rise of 18.80% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GFL stock in for the last two-week period is set at 57.18, with the RSI for the last a single of trading hit 55.75, and the three-weeks RSI is set at 58.04 for GFL Environmental Inc. [GFL]. The present Moving Average for the last 50 days of trading for this stock 34.28, while it was recorded at 35.93 for the last single week of trading, and 33.60 for the last 200 days.
GFL Environmental Inc. [GFL]: An insightful look at the core fundamentals
GFL Environmental Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.77 and a Current Ratio set at 0.82.
Earnings per share (EPS) analysis for GFL Environmental Inc. [GFL] stock
With the latest financial reports released by the company, GFL Environmental Inc. posted 0.06/share EPS, while the average EPS was predicted by analysts to be reported at -0.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 300.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GFL.
GFL Environmental Inc. [GFL]: Institutional Ownership
The top three institutional holders of GFL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GFL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GFL stock with ownership which is approximately 5.8325%.
