Element Fleet Management (OTCMKTS:ELEEF) Shares Gap Down After Earnings Miss

Element Fleet Management Corp. (OTCMKTS:ELEEF) gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $25.22, but opened at $23.83. Element Fleet Management shares last traded at $24.41, with a volume of 400 shares.

The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). The firm had revenue of $313.00 million during the quarter, compared to analyst estimates of $317.79 million.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ELEEF. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Element Fleet Management in a report on Thursday, November 13th. Jefferies Financial Group raised shares of Element Fleet Management to a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Element Fleet Management Price Performance

The stock’s 50-day moving average is $25.52 and its 200 day moving average is $26.07.

Element Fleet Management Company Profile

Element Fleet Management (OTCMKTS:ELEEF) is a leading global fleet management company headquartered in Toronto, Ontario. It provides comprehensive fleet leasing and management solutions for corporate and public sector clients, aiming to optimize vehicle acquisition, utilization and disposal strategies. The company focuses on delivering customizable programs that enhance operational efficiency and reduce total cost of ownership for light-, medium- and heavy-duty vehicles across diverse industries.

Element’s service portfolio encompasses full-service leasing and financing, maintenance management, policy administration, telematics and data analytics, fuel management and end-of-lease remarketing.