Element Fleet Management (TSE:EFN) Sets New 12-Month High – What’s Next?

Element Fleet Management Corp. (TSE:EFN) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$29.88 and last traded at C$29.66, with a volume of 11562 shares changing hands. The stock had previously closed at C$29.50.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Jefferies Financial Group lifted their target price on shares of Element Fleet Management from C$28.00 to C$31.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Royal Bank of Canada raised their price target on shares of Element Fleet Management from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Raymond James upped their price target on Element Fleet Management from C$29.00 to C$30.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 14th. Scotiabank boosted their price objective on Element Fleet Management from C$27.00 to C$28.00 in a research note on Wednesday, July 24th. Finally, BMO Capital Markets increased their price target on Element Fleet Management from C$28.00 to C$32.00 in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$31.88.

Element Fleet Management Trading Up 1.2 %

The stock has a market cap of C$12.05 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.97 and a beta of 0.91. The business has a fifty day simple moving average of C$27.66 and a 200 day simple moving average of C$25.14. The company has a debt-to-equity ratio of 303.14, a quick ratio of 5.70 and a current ratio of 8.22.

Element Fleet Management (TSE:EFN) last posted its quarterly earnings data on Tuesday, August 13th. The financial services provider reported C$0.40 EPS for the quarter, topping analysts’ consensus estimates of C$0.37 by C$0.03. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. The firm had revenue of C$375.68 million during the quarter, compared to analysts’ expectations of C$368.46 million. As a group, equities analysts anticipate that Element Fleet Management Corp. will post 1.6869159 EPS for the current year.

Element Fleet Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, September 27th. Element Fleet Management’s dividend payout ratio is presently 38.10%.

Insider Buying and Selling at Element Fleet Management

In other Element Fleet Management news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of Element Fleet Management stock in a transaction that occurred on Thursday, September 5th. The shares were purchased 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 currently owned by insiders.

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.