Element Fleet Management (TSE:EFN) Given New C$32.00 Price Target at Scotiabank

Element Fleet Management (TSE:EFN) had its price target lowered by Scotiabank from C$33.00 to C$32.00 in a report released on Thursday,BayStreet.CA reports.

Other equities research analysts have also issued reports about the stock. CIBC boosted their target price on shares of Element Fleet Management from C$30.00 to C$33.00 in a research note on Thursday, October 31st. Jefferies Financial Group upped 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 report on Tuesday, July 30th. BMO Capital Markets raised their target price on Element Fleet Management from C$28.00 to C$32.00 in a research report on Thursday, August 15th. National Bankshares upped their price target on shares of Element Fleet Management from C$34.00 to C$37.00 in a research report on Friday, September 27th. Finally, Royal Bank of Canada raised their price objective on shares of Element Fleet Management from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$33.63.

Element Fleet Management Stock Performance

TSE:EFN traded up C$0.43 during mid-day trading on Thursday, reaching C$27.50. The company’s stock had a trading volume of 193,237 shares, compared to its average volume of 543,230. The company has a current ratio of 8.22, a quick ratio of 5.70 and a debt-to-equity ratio of 303.14. The stock has a market cap of C$11.10 billion, a P/E ratio of 21.15, a PEG ratio of 2.97 and a beta of 0.91. The firm’s fifty day moving average price is C$28.68 and its two-hundred day moving average price is C$26.22. Element Fleet Management has a 12-month low of C$20.62 and a 12-month high of C$30.04.

Element Fleet Management (TSE:EFN) last released its quarterly earnings data on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, beating the consensus estimate of C$0.37 by C$0.03. Element Fleet Management had a net margin of 23.41% and a return on equity of 12.58%. The firm had revenue of C$375.68 million during the quarter, compared to analysts’ expectations of C$368.46 million. On average, equities analysts forecast that Element Fleet Management will post 1.6884016 EPS for the current fiscal year.

Element Fleet Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.75%. The ex-dividend date was Friday, September 27th. Element Fleet Management’s dividend payout ratio is currently 37.50%.

Insider Transactions at Element Fleet Management

In other Element Fleet Management news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was purchased at an average price of C$27.67 per share, for a total transaction of C$498,074.40. Corporate insiders own 0.26% of the company’s stock.

About Element Fleet Management

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.