Element Fleet Management (TSE:EFN) Reaches New 1-Year Low After Analyst Downgrade

Element Fleet Management Corp. (TSE:EFN) hit a new 52-week low during mid-day trading on Thursday after Raymond James Financial downgraded the stock from a strong-buy rating to an outperform rating. Raymond James Financial now has a C$42.00 price target on the stock, down from their previous price target of C$42.50. Element Fleet Management traded as low as C$29.57 and last traded at C$29.65, with a volume of 79368 shares traded. The stock had previously closed at C$30.97.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group upgraded Element Fleet Management from a “hold” rating to a “buy” rating in a report on Monday, February 23rd. Royal Bank Of Canada set a C$47.00 target price on Element Fleet Management and gave the stock an “outperform” rating in a report on Monday, January 26th. National Bank Financial lifted their price target on Element Fleet Management from C$48.00 to C$50.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, TD Securities lowered their price target on Element Fleet Management from C$42.00 to C$41.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Element Fleet Management has an average rating of “Buy” and an average price target of C$43.43.

Element Fleet Management Stock Down 5.7%

The company has a debt-to-equity ratio of 363.75, a current ratio of 4.05 and a quick ratio of 5.70. The firm has a market cap of C$11.60 billion, a PE ratio of 42.33, a P/E/G ratio of 2.97 and a beta of 0.32. The business has a fifty day moving average price of C$31.69 and a two-hundred day moving average price of C$34.40.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings results on Wednesday, February 25th. The financial services provider reported C$0.45 earnings per share for the quarter. Element Fleet Management had a return on equity of 10.09% and a net margin of 12.07%.The business had revenue of C$430.19 million for the quarter. On average, analysts anticipate that Element Fleet Management Corp. will post 1.6884016 EPS for the current fiscal year.

Element Fleet Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th were paid a $0.15 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 2.1%. Element Fleet Management’s payout ratio is 54.23%.

Element Fleet Management Company Profile

Element Financial separated into two independent public companies in October 2016. The former company now consists of Element Fleet Management, a global fleet management company, and ECN Capital, a commercial finance company. Element Fleet Management provides management services and financing for commercial vehicle and equipment fleets. The company’s suite of fleet management services deals with acquisition and financing, to program management and remarketing. ECN Capital operates across North America in three verticals of the equipment finance market: commercial and vendor finance, rail finance, and commercial aviation finance.