Element Fleet Management (TSE:EFN) Lifted to “Outperform” at Scotiabank

Scotiabank upgraded shares of Element Fleet Management (TSE:EFN) from a sector perform rating to an outperform rating in a report released on Tuesday, BayStreet.CA reports. The brokerage currently has C$26.00 price target on the financial services provider’s stock.

Several other research analysts have also weighed in on the stock. BMO Capital Markets raised their price objective on shares of Element Fleet Management from C$24.00 to C$26.00 and gave the stock an outperform rating in a report on Thursday, February 29th. Veritas Investment Research reissued a reduce rating on shares of Element Fleet Management in a report on Thursday, February 29th. Royal Bank of Canada increased their target price on Element Fleet Management from C$30.00 to C$31.00 and gave the stock an outperform rating in a report on Thursday, January 4th. TD Securities boosted their price target on Element Fleet Management from C$25.00 to C$27.00 and gave the company a buy rating in a report on Thursday, February 29th. Finally, Raymond James upped their price target on Element Fleet Management from C$26.00 to C$29.00 and gave the company a strong-buy rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Element Fleet Management presently has an average rating of Moderate Buy and a consensus target price of C$27.63.

Element Fleet Management Trading Up 1.5 %

TSE:EFN opened at C$22.75 on Tuesday. Element Fleet Management has a one year low of C$17.13 and a one year high of C$23.46. The business’s 50-day simple moving average is C$22.04 and its 200 day simple moving average is C$21.65. The company has a debt-to-equity ratio of 280.50, a quick ratio of 5.70 and a current ratio of 6.78. The stock has a market cap of C$8.85 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 2.97 and a beta of 0.84.

Element Fleet Management (TSE:EFN) last released its earnings results on Tuesday, February 27th. The financial services provider reported C$0.33 EPS for the quarter, beating the consensus estimate of C$0.32 by C$0.01. Element Fleet Management had a return on equity of 12.30% and a net margin of 23.38%. The company had revenue of C$333.36 million during the quarter, compared to analysts’ expectations of C$334.92 million. As a group, sell-side analysts predict that Element Fleet Management will post 1.4296824 earnings per share for the current fiscal year.

Element Fleet Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Wednesday, March 27th. Element Fleet Management’s dividend payout ratio (DPR) is 43.24%.

Insiders Place Their Bets

In related news, Senior Officer James Halliday sold 33,664 shares of Element Fleet Management stock in a transaction dated Friday, March 1st. The shares were sold at an average price of C$23.01, for a total transaction of C$774,608.64. In other news, Senior Officer James Halliday sold 33,664 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of C$23.01, for a total value of C$774,608.64. Also, Senior Officer Yu Xiang Jin acquired 2,500 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average price of C$22.02 per share, for a total transaction of C$55,050.00. 0.24% of the stock is currently owned by insiders.

Element Fleet Management Company Profile

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, Mexico, Australia, and New Zealand. The company offers end-to-end fleet cars, trucks, and material handling support equipment acquisition; and end-to-end electric vehicle fleet including fleet planning, charging infrastructure solutions, acquisition, financing, maintenance, and remarketing.