Element Fleet Management (TSE:EFN) Sets New 52-Week Low – Here’s Why

Shares of Element Fleet Management Corp. (TSE:EFN) hit a new 52-week low on Tuesday . The company traded as low as C$25.32 and last traded at C$26.00, with a volume of 3055017 shares changing hands. The stock had previously closed at C$27.47.

Analyst Ratings Changes

Several equities research analysts recently weighed in on EFN shares. TD cut their price objective on Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating on the stock in a report on Friday, May 8th. National Bank Financial boosted their target price on shares of Element Fleet Management from C$48.00 to C$50.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. TD Securities lowered their target price on shares of Element Fleet Management from C$42.00 to C$41.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Raymond James Financial cut shares of Element Fleet Management from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from C$42.50 to C$42.00 in a report on Thursday, May 7th. Finally, Royal Bank Of Canada decreased their price target on shares of 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. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Element Fleet Management currently has a consensus rating of “Buy” and a consensus target price of C$41.88.

Element Fleet Management Trading Down 5.4%

The company has a quick ratio of 5.70, a current ratio of -1,554.01 and a debt-to-equity ratio of 358.10. The firm’s 50-day simple moving average is C$30.13 and its 200-day simple moving average is C$33.17. The firm has a market capitalization of C$10.30 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 2.97 and a beta of 0.32.

Element Fleet Management (TSE:EFN) last issued 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. Equities analysts expect that Element Fleet Management Corp. will post 1.6884016 earnings per share for the current year.

Element Fleet Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, March 31st. Element Fleet Management’s dividend payout ratio (DPR) is presently 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.