Element Fleet Management Corp. (TSE:EFN) Receives Consensus Recommendation of “Buy” from Brokerages

Element Fleet Management Corp. (TSE:EFN) has been given an average rating of “Buy” by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued a report on the stock in the last year is C$41.88.

Several equities analysts recently weighed in on the company. 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 research note on Wednesday, February 4th. Raymond James Financial lowered Element Fleet Management from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from C$42.50 to C$42.00 in a research note on Thursday, May 7th. Royal Bank Of Canada lowered their price objective on Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. TD Securities lowered their price objective 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. Finally, TD lowered their price objective on Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating on the stock in a report on Friday, May 8th.

Element Fleet Management Price Performance

Shares of Element Fleet Management stock opened at C$27.47 on Friday. The company has a quick ratio of 5.70, a current ratio of -1,554.01 and a debt-to-equity ratio of 358.10. Element Fleet Management has a twelve month low of C$26.16 and a twelve month high of C$38.26. The business has a 50-day moving average price of C$30.22 and a 200 day moving average price of C$33.27. The firm has a market cap of C$10.88 billion, a PE ratio of 37.12, a P/E/G ratio of 2.97 and a beta of 0.32.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 earnings per share 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. Sell-side analysts predict that Element Fleet Management will post 1.6884016 earnings per share for the current fiscal year.

Element Fleet Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, March 31st. Element Fleet Management’s payout ratio is presently 52.84%.

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.