Element Fleet Management Corp. (TSE:EFN) Given Average Rating of “Buy” by Brokerages

Element Fleet Management Corp. (TSE:EFN) has been given a consensus rating of “Buy” by the eight research firms that are covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$41.88.

Several equities analysts recently weighed in on EFN shares. TD Securities dropped their price target on shares of Element Fleet Management from C$42.00 to C$41.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Raymond James Financial cut shares of Element Fleet Management from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from C$42.50 to C$42.00 in a research report on Thursday, May 7th. TD dropped their target price on shares of Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Royal Bank Of Canada dropped their target price on shares of 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.

Insiders Place Their Bets

In other Element Fleet Management news, insider James Halliday sold 67,102 shares of Element Fleet Management stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of C$28.07, for a total transaction of C$1,883,553.14. Following the transaction, the insider owned 54,301 shares of the company’s stock, valued at C$1,524,229.07. This trade represents a 55.27% decrease in their position. Also, Director George Keith Graham bought 2,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were purchased at an average cost of C$28.00 per share, for a total transaction of C$56,000.00. Following the transaction, the director owned 27,000 shares in the company, valued at approximately C$756,000. This represents a 8.00% increase in their ownership of the stock. Insiders have bought a total of 38,420 shares of company stock valued at $1,073,612 in the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

Element Fleet Management Price Performance

Shares of TSE EFN opened at C$28.86 on Wednesday. Element Fleet Management has a fifty-two week low of C$25.32 and a fifty-two week high of C$38.26. The stock has a market cap of C$11.43 billion, a price-to-earnings ratio of 39.00, a PEG ratio of 2.97 and a beta of 0.66. The company has a debt-to-equity ratio of 358.10, a quick ratio of 5.70 and a current ratio of -1,554.01. The firm’s 50-day simple moving average is C$28.94 and its 200 day simple moving average is C$32.12.

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 net margin of 12.38% and a return on equity of 10.62%. The business had revenue of C$879.58 million for the quarter. As a group, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 2.1%. Element Fleet Management’s dividend payout ratio (DPR) is currently 52.84%.

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.