Element Fleet Management Corp. (TSE:EFN) Receives Average Rating of “Buy” from Analysts

Shares of Element Fleet Management Corp. (TSE:EFN) have received a consensus rating of “Buy” from the eight analysts that are presently covering the company, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have covered the stock in the last year is C$41.88.

A number of brokerages have commented on EFN. TD decreased their price objective on Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Raymond James Financial lowered Element Fleet Management from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from C$42.50 to C$42.00 in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada decreased their price objective on Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating for the company in a research report on Friday, May 8th.

Element Fleet Management Trading Down 0.7%

Shares of TSE EFN opened at C$29.27 on Wednesday. Element Fleet Management has a one year low of C$25.32 and a one year high of C$38.26. The firm has a market capitalization of C$11.59 billion, a PE ratio of 39.55, a PEG ratio of 2.97 and a beta of 0.66. The company has a current ratio of -1,554.01, a quick ratio of 5.70 and a debt-to-equity ratio of 358.10. The business has a 50-day moving average price of C$28.64 and a two-hundred day moving average price of C$31.88.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported C$0.49 EPS for the quarter. Element Fleet Management had a return on equity of 10.62% and a net margin of 12.38%.The firm had revenue of C$879.58 million during the quarter. As a group, analysts predict that Element Fleet Management will post 1.6884016 earnings per share for the current fiscal year.

Element Fleet Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, June 30th. Element Fleet Management’s payout ratio is currently 52.84%.

Insider Activity

In other news, insider Laura Lee Dottori-Attanasio purchased 35,800 shares of Element Fleet Management stock in a transaction dated Tuesday, June 16th. The stock was acquired at an average cost of C$27.94 per share, for a total transaction of C$1,000,252.00. Following the acquisition, the insider directly owned 397,600 shares in the company, valued at C$11,108,944. This represents a 9.89% increase in their ownership of the stock. Also, insider James Halliday sold 67,102 shares of Element Fleet Management stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of C$28.07, for a total value of C$1,883,553.14. Following the sale, the insider owned 54,301 shares of the company’s stock, valued at approximately C$1,524,229.07. This represents a 55.27% decrease in their ownership of the stock. Insiders bought a total of 38,420 shares of company stock worth $1,073,612 in the last three months. 0.26% of the stock is owned by insiders.

About Element Fleet Management

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.