Element Fleet Management Corp. (TSE:EFN) Given Average Rating of “Buy” by Brokerages

Element Fleet Management Corp. (TSE:EFN) has been assigned a consensus rating of “Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$41.88.

Several brokerages have recently commented on EFN. TD decreased their target price on Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Raymond James Financial lowered Element Fleet Management from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from C$42.50 to C$42.00 in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada reduced their price objective on Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating for the company in a research note on Friday, May 8th.

Element Fleet Management Stock Up 2.4%

Shares of TSE:EFN opened at C$31.35 on Friday. The firm has a 50 day simple moving average of C$28.52 and a 200 day simple moving average of C$31.14. Element Fleet Management has a 52 week low of C$25.32 and a 52 week high of C$38.26. 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 cap of C$12.41 billion, a PE ratio of 42.36, a price-to-earnings-growth ratio of 2.97 and a beta of 0.61.

Element Fleet Management (TSE:EFN) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported C$0.49 earnings per share for the quarter. Element Fleet Management had a net margin of 12.38% and a return on equity of 10.62%. The firm had revenue of C$879.58 million for the quarter. As a group, research analysts expect that Element Fleet Management will post 1.6884016 earnings per share for the current year.

Element Fleet Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were issued a $0.15 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.9%. Element Fleet Management’s dividend payout ratio is currently 52.84%.

Insider Activity

In related news, insider Laura Lee Dottori-Attanasio purchased 35,800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was acquired at an average cost of C$27.94 per share, for a total transaction of C$1,000,252.00. Following the completion of the acquisition, the insider owned 397,600 shares in the company, valued at C$11,108,944. This trade represents a 9.89% increase in their position. Also, insider James Halliday sold 67,102 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of C$28.07, for a total transaction of C$1,883,553.14. Following the transaction, the insider directly owned 54,301 shares in the company, valued at C$1,524,229.07. The trade was a 55.27% decrease in their ownership of the stock. Insiders have acquired 38,420 shares of company stock worth $1,073,612 in the last 90 days. Company insiders own 0.26% of the company’s stock.

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.