Element Fleet Management (TSE:EFN) Hits New 1-Year Low – Should You Sell?

Element Fleet Management Corp. (TSE:EFN)’s stock price hit a new 52-week low on Wednesday . The company traded as low as C$26.16 and last traded at C$27.59, with a volume of 2909657 shares. The stock had previously closed at C$26.85.

Wall Street Analysts Forecast Growth

EFN has been the subject of a number of research reports. TD reduced their target price on shares of Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating for the company in a report on Friday, May 8th. Raymond James Financial downgraded Element Fleet Management from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from C$42.50 to C$42.00 in a report on Thursday, May 7th. Royal Bank Of Canada cut their price objective on Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Jefferies Financial Group upgraded Element Fleet Management from a “hold” rating to a “buy” rating in a report on Monday, February 23rd. Finally, National Bank Financial boosted their price objective on Element Fleet Management from C$48.00 to C$50.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$41.88.

Element Fleet Management Stock Performance

The firm’s 50 day simple moving average is C$31.04 and its 200-day simple moving average is C$33.99. The company has a debt-to-equity ratio of 358.10, a quick ratio of 5.70 and a current ratio of -1,554.01. The company has a market capitalization of C$10.87 billion, a price-to-earnings ratio of 37.09, a P/E/G ratio of 2.97 and a beta of 0.32.

Element Fleet Management (TSE:EFN) last announced its earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 earnings per share (EPS) for the quarter. Element Fleet Management had a net margin of 12.38% and a return on equity of 10.62%. The company had revenue of C$879.58 million for the quarter. Analysts expect that Element Fleet Management Corp. will post 1.6884016 EPS for the current year.

Element Fleet Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, March 31st. Element Fleet Management’s dividend payout ratio is 52.84%.

About Element Fleet Management

Element Financial separated into two independent public companies in October 2016. The former company now consists of Element Fleet Management, a global fleet management company, and ECN Capital, a commercial finance company. Element Fleet Management provides management services and financing for commercial vehicle and equipment fleets. The company’s suite of fleet management services deals with acquisition and financing, to program management and remarketing. ECN Capital operates across North America in three verticals of the equipment finance market: commercial and vendor finance, rail finance, and commercial aviation finance.