Element Fleet Management (TSE:EFN) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Element Fleet Management Corp. (TSE:EFN) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$31.38 and traded as low as C$29.66. Element Fleet Management shares last traded at C$29.86, with a volume of 781,180 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Raymond James Financial lowered Element Fleet Management from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from C$42.50 to C$42.00 in a research note on Thursday, May 7th. TD lowered their price target on shares of 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. Finally, Royal Bank Of Canada dropped their price objective on shares of 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. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$41.88.

Element Fleet Management Price Performance

The company has a market capitalization of C$12.12 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 2.97 and a beta of 0.61. The company has a current ratio of -1,554.01, a quick ratio of 5.70 and a debt-to-equity ratio of 358.10. The company has a 50 day moving average price of C$28.13 and a 200 day moving average price of C$31.34.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 earnings per share (EPS) for the quarter. The business had revenue of C$879.58 million for the quarter. Element Fleet Management had a return on equity of 10.62% and a net margin of 12.38%. As a group, equities research analysts forecast that Element Fleet Management Corp. 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. Shareholders of record on Wednesday, July 15th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 2.0%. Element Fleet Management’s dividend payout ratio is presently 52.84%.

Insider Activity

In related news, 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 completion of the sale, the insider directly owned 54,301 shares of the company’s stock, valued at C$1,524,229.07. The trade was a 55.27% decrease in their ownership of the stock. Also, insider Laura Lee Dottori-Attanasio acquired 35,800 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was acquired at an average price of C$27.94 per share, for a total transaction of C$1,000,252.00. Following the completion of the acquisition, the insider directly owned 397,600 shares of the company’s stock, valued at C$11,108,944. This trade represents a 9.89% increase in their ownership of the stock. In the last quarter, insiders have acquired 38,420 shares of company stock valued at $1,073,612. 0.26% of the stock is currently owned by insiders.

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.