Element Fleet Management (TSE:EFN) Posts Earnings Results

Element Fleet Management (TSE:EFN) posted its quarterly earnings data on Wednesday. The financial services provider reported C$0.48 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$451.94 million during the quarter. Element Fleet Management had a net margin of 12.38% and a return on equity of 10.62%.

Element Fleet Management Stock Performance

Shares of TSE EFN opened at C$28.61 on Friday. Element Fleet Management has a 12-month low of C$25.32 and a 12-month high of C$38.26. The company has a market cap of C$11.33 billion, a price-to-earnings ratio of 38.66, a price-to-earnings-growth ratio of 2.97 and a beta of 0.61. 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 stock’s 50 day simple moving average is C$29.16 and its 200 day simple moving average is C$30.88.

Element Fleet Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, June 30th. Element Fleet Management’s dividend payout ratio is presently 52.84%.

Insider Buying and Selling

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 bought at an average price of C$27.94 per share, with a total value of C$1,000,252.00. Following the completion of the acquisition, the insider owned 397,600 shares in the company, valued at C$11,108,944. The trade was a 9.89% increase in their position. Also, Director George Keith Graham purchased 2,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were purchased at an average price of C$28.00 per share, with a total value of C$56,000.00. Following the transaction, the director directly owned 27,000 shares of the company’s stock, valued at approximately C$756,000. The trade was a 8.00% increase in their position. Insiders purchased 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.

Analyst Ratings Changes

EFN has been the topic of several research reports. Royal Bank Of Canada dropped their price target on Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Raymond James Financial downgraded shares of 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 report on Thursday, May 7th. Finally, TD lowered their target price on shares of Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$41.88.

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.