Analysts Set Element Fleet Management Corp. (TSE:EFN) Price Target at C$28.50

Shares of Element Fleet Management Corp. (TSE:EFN) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$29.33.

EFN has been the topic of several recent analyst reports. BMO Capital Markets raised their price objective on Element Fleet Management from C$26.00 to C$28.00 in a research note on Thursday, May 16th. Scotiabank lifted their target price on Element Fleet Management from C$27.00 to C$28.00 in a research note on Wednesday, July 24th. TD Securities lifted their target price on Element Fleet Management from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. 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 note on Monday. Finally, Jefferies Financial Group lifted their target price on Element Fleet Management from C$28.00 to C$31.00 and gave the stock a “buy” rating in a research note on Tuesday.

Element Fleet Management Stock Performance

TSE EFN opened at C$26.47 on Wednesday. The company has a fifty day simple moving average of C$25.03 and a 200 day simple moving average of C$23.33. Element Fleet Management has a 12-month low of C$18.50 and a 12-month high of C$26.92. The company has a current ratio of 8.32, a quick ratio of 5.70 and a debt-to-equity ratio of 315.13. The company has a market cap of C$10.29 billion, a P/E ratio of 21.88, a PEG ratio of 2.97 and a beta of 0.83.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings data on Tuesday, May 14th. The financial services provider reported C$0.36 earnings per share for the quarter, beating the consensus estimate of C$0.31 by C$0.05. Element Fleet Management had a return on equity of 12.40% and a net margin of 23.30%. The business had revenue of C$353.83 million for the quarter, compared to analysts’ expectations of C$333.85 million. Sell-side analysts predict that Element Fleet Management will post 1.5226286 earnings per share for the current fiscal year.

Element Fleet Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Friday, June 28th. Element Fleet Management’s dividend payout ratio (DPR) is 39.67%.

Insider Buying and Selling

In other Element Fleet Management news, Senior Officer James Halliday sold 32,700 shares of the 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. In other Element Fleet Management news, Senior Officer James Halliday sold 32,700 shares of the 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, Senior Officer William Sutherland purchased 4,000 shares of Element Fleet Management stock in a transaction on Tuesday, June 18th. The shares were acquired at an average price of C$24.90 per share, for a total transaction of C$99,594.00. Over the last three months, insiders have purchased 5,550 shares of company stock worth $132,034 and have sold 68,974 shares worth $1,716,749. 0.23% of the stock is owned by company insiders.

About Element Fleet Management

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.