Element Fleet Management (OTCMKTS:ELEEF) Shares Gap Down on Disappointing Earnings

Element Fleet Management Corp. (OTCMKTS:ELEEF) shares gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. 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 trading hands.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ELEEF shares. Jefferies Financial Group upgraded Element Fleet Management to a “buy” rating in a report on Monday. Raymond James Financial reissued a “strong-buy” rating on shares of Element Fleet Management in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat.com, Element Fleet Management currently has a consensus rating of “Buy”.

Element Fleet Management Trading Up 1.5%

The business’s fifty day simple moving average is $25.46 and its 200-day simple moving average is $26.05.

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.