Research Analysts Issue Forecasts for Element Fleet Management Corp.’s Q3 2024 Earnings (TSE:EFN)

Element Fleet Management Corp. (TSE:EFN) – Equities researchers at Raymond James lowered their Q3 2024 EPS estimates for Element Fleet Management in a research note issued to investors on Tuesday, August 13th. Raymond James analyst S. Boland now forecasts that the financial services provider will earn $0.38 per share for the quarter, down from their prior estimate of $0.41. Raymond James currently has a “Strong-Buy” rating and a $30.00 target price on the stock. The consensus estimate for Element Fleet Management’s current full-year earnings is $1.57 per share. Raymond James also issued estimates for Element Fleet Management’s Q4 2024 earnings at $0.40 EPS and Q2 2025 earnings at $0.43 EPS.

A number of other analysts have also recently weighed in on EFN. BMO Capital Markets boosted their price target on Element Fleet Management from C$28.00 to C$32.00 in a research report on Thursday. CIBC lifted their target price on Element Fleet Management from C$28.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Scotiabank boosted their price target on shares of Element Fleet Management from C$27.00 to C$28.00 in a report on Wednesday, July 24th. Jefferies Financial Group lifted their price objective on Element Fleet Management from C$28.00 to C$31.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada boosted their price target on Element Fleet Management from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$31.25.

Element Fleet Management Stock Up 0.5 %

Shares of Element Fleet Management stock opened at C$27.29 on Friday. The company has a debt-to-equity ratio of 315.13, a current ratio of 8.32 and a quick ratio of 5.70. The firm has a market cap of C$10.61 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 2.97 and a beta of 0.90. The stock has a 50-day simple moving average of C$25.44 and a 200-day simple moving average of C$23.62. Element Fleet Management has a 52-week low of C$18.50 and a 52-week high of C$27.44.

Element Fleet Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 27th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.48 dividend on an annualized basis and a yield of 1.76%. Element Fleet Management’s dividend payout ratio is 39.34%.

Insider Buying and Selling at Element Fleet Management

In related news, Director George Keith Graham sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of C$24.70, for a total value of C$617,500.00. In other news, Senior Officer James Halliday sold 32,700 shares of Element Fleet Management stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of C$25.00, for a total transaction of C$817,500.00. Also, Director George Keith Graham sold 25,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of C$24.70, for a total transaction of C$617,500.00. In the last quarter, insiders acquired 5,550 shares of company stock worth $132,034 and sold 68,874 shares worth $1,714,350. Corporate insiders own 0.22% of the company’s stock.

Element Fleet Management Company Profile

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, Mexico, Australia, and New Zealand. The company offers end-to-end fleet cars, trucks, and material handling support equipment acquisition; and end-to-end electric vehicle fleet including fleet planning, charging infrastructure solutions, acquisition, financing, maintenance, and remarketing.