National Bank Financial Comments on Element Fleet Management Corp.’s Q2 2021 Earnings (TSE:EFN)

Element Fleet Management Corp. (TSE:EFN) – Investment analysts at National Bank Financial issued their Q2 2021 earnings per share estimates for shares of Element Fleet Management in a research note issued to investors on Wednesday, May 12th. National Bank Financial analyst J. Gloyn forecasts that the financial services provider will post earnings of $0.21 per share for the quarter. National Bank Financial currently has a “Outperform” rating and a $19.00 target price on the stock. National Bank Financial also issued estimates for Element Fleet Management’s Q3 2021 earnings at $0.22 EPS, FY2021 earnings at $0.87 EPS and FY2022 earnings at $1.00 EPS.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings results on Wednesday, March 3rd. The financial services provider reported C$0.23 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.20 by C$0.03. The company had revenue of C$247.10 million during the quarter, compared to the consensus estimate of C$231.50 million.

Other analysts have also recently issued reports about the company. Raymond James upped their price target on Element Fleet Management from C$14.50 to C$17.50 and gave the company an “outperform” rating in a research report on Wednesday, May 12th. TD Securities cut Element Fleet Management from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$16.00 to C$14.50 in a report on Wednesday, May 12th. CIBC restated an “outperform” rating and set a C$16.00 target price on shares of Element Fleet Management in a report on Wednesday, May 12th. Royal Bank of Canada increased their target price on Element Fleet Management from C$18.00 to C$19.00 and gave the stock an “outperform” rating in a report on Wednesday, May 12th. Finally, Cormark upgraded Element Fleet Management from a “reduce” rating to a “market perform” rating in a report on Tuesday, February 9th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of C$17.00.

Shares of TSE:EFN opened at C$13.61 on Monday. The business’s fifty day moving average price is C$14.35 and its two-hundred day moving average price is C$13.29. Element Fleet Management has a fifty-two week low of C$8.08 and a fifty-two week high of C$15.28. The stock has a market capitalization of C$5.86 billion and a price-to-earnings ratio of 22.72. The company has a debt-to-equity ratio of 254.49, a current ratio of 9.83 and a quick ratio of 9.33.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th will be given a dividend of $0.065 per share. The ex-dividend date is Tuesday, June 29th. This represents a $0.26 dividend on an annualized basis and a yield of 1.91%. Element Fleet Management’s payout ratio is presently 36.73%.

About Element Fleet Management

Element Fleet Management Corp. operates as a fleet management company in Canada, the United States, Mexico, Australia, and New Zealand. The company offers fleet management services comprising acquisition, financing, program management, and vehicle remarketing services for cars and light duty vehicles, medium and heavy duty trucks, material handling equipment, automobiles, and specialty vehicles and equipment, as well as corporate, municipal, and industrial fleets.

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Earnings History and Estimates for Element Fleet Management (TSE:EFN)

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