Element Fleet Management (TSE:EFN) Stock Price Expected to Rise, CIBC Analyst Says

Element Fleet Management (TSE:EFN) had its price objective upped by CIBC from C$30.00 to C$33.00 in a report released on Thursday, BayStreet.CA reports.

Several other research analysts also recently commented on the stock. TD Securities raised their price objective on shares of Element Fleet Management from C$30.00 to C$32.00 in a report on Friday, September 20th. Raymond James boosted their price objective on Element Fleet Management from C$29.00 to C$30.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 14th. Scotiabank raised their target price on Element Fleet Management from C$27.00 to C$28.00 in a research note on Wednesday, July 24th. Royal Bank of Canada lifted their target price on Element Fleet Management from C$33.00 to C$35.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, BMO Capital Markets increased their price target on shares of Element Fleet Management from C$28.00 to C$32.00 in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$32.25.

Element Fleet Management Stock Performance

Shares of EFN opened at C$28.53 on Thursday. The company has a debt-to-equity ratio of 303.14, a current ratio of 8.22 and a quick ratio of 5.70. The firm has a market cap of C$11.51 billion, a PE ratio of 22.29, a PEG ratio of 2.97 and a beta of 0.91. Element Fleet Management has a 1 year low of C$18.92 and a 1 year high of C$30.04. The stock’s fifty day moving average price is C$28.50 and its two-hundred day moving average price is C$25.87.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings data on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.37 by C$0.03. The business had revenue of C$375.68 million for the quarter, compared to analysts’ expectations of C$368.46 million. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. On average, equities research analysts forecast that Element Fleet Management will post 1.6884016 EPS for the current year.

Element Fleet Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.12 per share. The ex-dividend date was Friday, September 27th. This represents a $0.48 annualized dividend and a yield of 1.68%. Element Fleet Management’s payout ratio is presently 37.50%.

Insiders Place Their Bets

In related news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were purchased at an average price of C$27.67 per share, for a total transaction of C$498,074.40. Corporate insiders own 0.26% of the company’s stock.

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.