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

Element Fleet Management Corp. (TSE:EFN) has received a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is C$41.88.

Several research analysts have weighed in on the stock. Raymond James Financial cut shares of Element Fleet Management from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from C$42.50 to C$42.00 in a report on Thursday, May 7th. Royal Bank Of Canada lowered 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. Finally, 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.

Insider Buying and Selling at Element Fleet Management

In other news, insider James Halliday sold 67,102 shares of the firm’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 of the company’s stock, valued at approximately C$1,524,229.07. This trade represents a 55.27% decrease in their ownership of the stock. Also, insider Laura Lee Dottori-Attanasio bought 35,800 shares of the stock in a transaction dated Tuesday, June 16th. The shares were 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 directly owned 397,600 shares of the company’s stock, valued at approximately C$11,108,944. This trade represents a 9.89% increase in their position. Insiders have purchased a total of 38,420 shares of company stock valued at $1,073,612 in the last three months. 0.26% of the stock is currently owned by company insiders.

Element Fleet Management Price Performance

Shares of EFN stock opened at C$29.57 on Wednesday. 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 firm’s 50-day moving average is C$28.76 and its 200-day moving average is C$31.97. The stock has a market cap of C$11.71 billion, a price-to-earnings ratio of 39.96, a PEG ratio of 2.97 and a beta of 0.66. Element Fleet Management has a 52-week low of C$25.32 and a 52-week high of C$38.26.

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. The company had revenue of C$879.58 million for the quarter. Element Fleet Management had a net margin of 12.38% and a return on equity of 10.62%. Sell-side analysts predict that Element Fleet Management will post 1.6884016 EPS for the current year.

Element Fleet Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Element Fleet Management’s dividend payout ratio is currently 52.84%.

Element Fleet Management Company Profile

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.