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

Shares of Element Fleet Management Corp. (TSE:EFN) have been assigned a consensus recommendation of “Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$41.88.

Several equities analysts recently commented on the company. Raymond James Financial lowered Element Fleet Management from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from C$42.50 to C$42.00 in a research report on Thursday, May 7th. TD lowered their price objective 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 report on Friday, May 8th. Finally, Royal Bank Of Canada dropped their price objective 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 note on Friday, May 8th.

Insider Activity at Element Fleet Management

In other Element Fleet Management news, insider James Halliday sold 67,102 shares of the business’s 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. The trade was a 55.27% decrease in their position. Also, Director George Keith Graham acquired 2,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was purchased at an average price of C$28.00 per share, for a total transaction of C$56,000.00. Following the acquisition, the director directly owned 27,000 shares in the company, valued at C$756,000. This represents a 8.00% increase in their ownership of the stock. In the last three months, insiders bought 38,420 shares of company stock valued at $1,073,612. Corporate insiders own 0.26% of the company’s stock.

Element Fleet Management Trading Up 0.4%

Shares of EFN opened at C$30.60 on Friday. The stock’s 50-day moving average is C$28.18 and its two-hundred day moving average is C$31.33. The stock has a market cap of C$12.12 billion, a PE ratio of 41.35, a P/E/G ratio of 2.97 and a beta of 0.61. 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 debt-to-equity ratio of 358.10, a current ratio of -1,554.01 and a quick ratio of 5.70.

Element Fleet Management (TSE:EFN) last issued its 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 company had revenue of C$879.58 million during the quarter. Equities analysts forecast 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 was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were paid a $0.15 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 2.0%. Element Fleet Management’s dividend payout ratio is 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.