Element Fleet Management (TSE:EFN) Stock Passes Above Fifty Day Moving Average – Here’s Why

Element Fleet Management Corp. (TSE:EFN)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$28.33 and traded as high as C$30.04. Element Fleet Management shares last traded at C$29.80, with a volume of 625,917 shares traded.

Analysts Set New Price Targets

A number of research firms have issued reports on EFN. TD reduced 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. Royal Bank Of Canada cut their price target on shares of 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. Finally, Raymond James Financial lowered shares of Element Fleet Management from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from C$42.50 to C$42.00 in a research note on Thursday, May 7th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat, Element Fleet Management presently has an average rating of “Buy” and a consensus price target of C$41.88.

Element Fleet Management Price Performance

The stock has a 50 day moving average of C$28.33 and a two-hundred day moving average of C$31.66. 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 has a market capitalization of C$11.80 billion, a P/E ratio of 40.27, a P/E/G ratio of 2.97 and a beta of 0.61.

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

Element Fleet Management Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 2.0%. Element Fleet Management’s dividend payout ratio (DPR) is presently 52.84%.

Insider Buying and Selling

In related news, insider James Halliday sold 67,102 shares of Element Fleet Management stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of C$28.07, for a total value of C$1,883,553.14. Following the transaction, the insider owned 54,301 shares in the company, valued at C$1,524,229.07. This trade represents a 55.27% decrease in their position. Also, insider Laura Lee Dottori-Attanasio bought 35,800 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were purchased at an average cost of C$27.94 per share, with a total value of C$1,000,252.00. Following the transaction, the insider owned 397,600 shares in the company, valued at approximately C$11,108,944. The trade was a 9.89% increase in their ownership of the stock. Insiders have bought 38,420 shares of company stock worth $1,073,612 in the last quarter. 0.26% of the stock is currently owned by company insiders.

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.