Element Fleet Management (TSE:EFN) Price Target Raised to C$33.00 at CIBC

Element Fleet Management (TSE:EFN) had its target price increased by CIBC from C$30.00 to C$33.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports.

Other equities research analysts have also recently issued research reports about the stock. Raymond James increased their target price on Element Fleet Management from C$29.00 to C$30.00 and gave the stock a “strong-buy” rating in a research report 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 note on Friday, September 27th. BMO Capital Markets boosted their price target on shares of Element Fleet Management from C$28.00 to C$32.00 in a research report on Thursday, August 15th. Royal Bank of Canada increased their price objective on Element Fleet Management from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Jefferies Financial Group lifted their price objective on Element Fleet Management from C$28.00 to C$31.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$32.25.

Element Fleet Management Trading Down 1.5 %

Shares of EFN opened at C$28.49 on Thursday. Element Fleet Management has a fifty-two week low of C$18.59 and a fifty-two week high of C$30.04. The business has a 50-day moving average of C$28.47 and a 200 day moving average of C$25.77. The firm has a market cap of C$11.50 billion, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. 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 earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, topping the consensus estimate of C$0.37 by C$0.03. The firm had revenue of C$375.68 million during the quarter, compared to the consensus estimate of C$368.46 million. Element Fleet Management had a net margin of 23.41% and a return on equity of 12.58%. As a group, research analysts forecast that Element Fleet Management will post 1.6884016 EPS for the current year.

Element Fleet Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.48 dividend on an annualized basis and a yield of 1.68%. Element Fleet Management’s payout ratio is 37.50%.

Insider Transactions at Element Fleet Management

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

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.