Element Fleet Management (TSE:EFN) PT Raised to C$32.00

Element Fleet Management (TSE:EFN) had its target price increased by TD Securities from C$30.00 to C$32.00 in a report issued on Friday morning, BayStreet.CA reports.

A number of other research firms have also commented on EFN. National Bankshares increased their price target on Element Fleet Management from C$33.00 to C$34.00 and gave the company an outperform rating in a research report on Wednesday, August 14th. Raymond James upped their price objective on 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. CIBC upped their price objective on Element Fleet Management from C$28.00 to C$30.00 and gave the company an outperform rating in a research note on Monday, July 29th. Royal Bank of Canada increased their price target on Element Fleet Management from C$33.00 to C$35.00 and gave the stock an outperform rating in a research note on Wednesday, August 14th. Finally, BMO Capital Markets increased their price target on Element Fleet Management from C$28.00 to C$32.00 in a research note on Thursday, August 15th. 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, the company presently has a consensus rating of Moderate Buy and a consensus target price of C$31.50.

Element Fleet Management Stock Performance

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 has a 12 month low of C$18.50 and a 12 month high of C$28.89. The firm has a 50-day simple moving average of C$26.96 and a 200 day simple moving average of C$24.49. The firm has a market capitalization of C$11.37 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 2.97 and a beta of 0.91.

Element Fleet Management (TSE:EFN) last issued 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 company had revenue of C$375.68 million for the quarter, compared to analyst estimates of C$368.46 million. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. Research analysts predict that Element Fleet Management will post 1.6868327 EPS for the current fiscal year.

Element Fleet Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.48 annualized dividend and a yield of ∞. Element Fleet Management’s payout ratio is 37.80%.

Insider Buying and Selling

In related news, Senior Officer Laura Lee Dottori-Attanasio purchased 18,000 shares of Element Fleet Management 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. 0.23% of the stock is owned by corporate insiders.

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.