Brokerages Set Element Fleet Management Corp. (TSE:EFN) Price Target at C$31.88

Element Fleet Management Corp. (TSE:EFN) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$31.88.

EFN has been the subject of a number of recent research reports. BMO Capital Markets increased their target price on Element Fleet Management from C$28.00 to C$32.00 in a report on Thursday, August 15th. Scotiabank increased their price objective on Element Fleet Management from C$27.00 to C$28.00 in a research note on Wednesday, July 24th. Raymond James boosted their target price on shares of Element Fleet Management from C$29.00 to C$30.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 14th. National Bankshares increased their target price on shares of Element Fleet Management from C$34.00 to C$37.00 in a research report on Friday, September 27th. Finally, TD Securities lifted their price target on shares of Element Fleet Management from C$30.00 to C$32.00 in a report on Friday, September 20th.

Insider Buying and Selling

In related news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average cost of C$27.67 per share, for a total transaction of C$498,074.40. 0.26% of the stock is owned by company insiders.

Element Fleet Management Trading Up 1.6 %

Shares of EFN stock opened at C$29.50 on Monday. The company has a current ratio of 8.22, a quick ratio of 5.70 and a debt-to-equity ratio of 303.14. Element Fleet Management has a 1 year low of C$18.50 and a 1 year high of C$29.67. The firm’s fifty day simple moving average is C$27.53 and its 200 day simple moving average is C$25.02. The firm has a market capitalization of C$11.91 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91.

Element Fleet Management (TSE:EFN) last released its earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.37 by C$0.03. The business had revenue of C$375.68 million for the quarter, compared to the consensus estimate of C$368.46 million. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. As a group, sell-side analysts predict that Element Fleet Management will post 1.6869159 EPS for the current year.

Element Fleet Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Friday, September 27th. Element Fleet Management’s dividend payout ratio is currently 38.10%.

Element Fleet Management Company Profile

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, Mexico, Australia, and New Zealand. The company offers end-to-end fleet cars, trucks, and material handling support equipment acquisition; and end-to-end electric vehicle fleet including fleet planning, charging infrastructure solutions, acquisition, financing, maintenance, and remarketing.