Element Fleet Management (TSE:EFN) Reaches New 52-Week High at $15.06

Element Fleet Management Corp. (TSE:EFN – Get Rating)’s share price reached a new 52-week high on Thursday . The stock traded as high as C$15.06 and last traded at C$15.03, with a volume of 479794 shares trading hands. The stock had previously closed at C$14.84.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. CIBC lifted their price target on shares of Element Fleet Management from C$14.00 to C$15.50 and gave the company an “outperform” rating in a research note on Tuesday, July 26th. National Bankshares boosted their price objective on shares of Element Fleet Management from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 10th. TD Securities boosted their price objective on shares of Element Fleet Management from C$12.50 to C$13.00 and gave the stock a “hold” rating in a research note on Tuesday, May 10th. Barclays reduced their price objective on shares of Element Fleet Management from C$19.00 to C$17.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 11th. Finally, BMO Capital Markets reduced their price objective on shares of Element Fleet Management from C$14.50 to C$13.50 in a research note on Tuesday, May 10th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$16.00.

Element Fleet Management Stock Down 0.3 %

The company’s fifty day simple moving average is C$13.86 and its 200-day simple moving average is C$12.90. The company has a debt-to-equity ratio of 236.53, a current ratio of 7.17 and a quick ratio of 6.73. The firm has a market capitalization of C$6.02 billion and a PE ratio of 19.88.

Element Fleet Management (TSE:EFN – Get Rating) last released its quarterly earnings results on Monday, May 9th. The financial services provider reported C$0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.20 by C$0.04. The firm had revenue of C$260.80 million during the quarter, compared to analysts’ expectations of C$239.00 million. On average, analysts forecast that Element Fleet Management Corp. will post 1.068514 EPS for the current year.

Element Fleet Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, July 15th were issued a $0.0775 dividend. This is a positive change from Element Fleet Management’s previous quarterly dividend of $0.07. This represents a $0.31 annualized dividend and a yield of 2.05%. The ex-dividend date was Wednesday, June 29th. Element Fleet Management’s payout ratio is currently 37.50%.

About Element Fleet Management

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Element Fleet Management Corp. operates as a fleet management company primarily in Canada, the United States, Mexico, Australia, and New Zealand. The company offers fleet management services comprising vehicle acquisition, financing, program management, and remarketing services to corporate, commercial, government, and public service vehicle fleets.