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

Element Fleet Management Corp. (TSE:EFN) has been given a consensus rating of “Buy” by the seven research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is C$34.00.

Several brokerages have weighed in on EFN. National Bankshares lowered their target price on shares of Element Fleet Management from C$41.00 to C$40.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Raymond James upped their price target on Element Fleet Management from C$34.00 to C$36.00 in a report on Friday, February 28th. Finally, CIBC raised their price objective on Element Fleet Management from C$33.00 to C$34.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th.

Insiders Place Their Bets

In other news, Senior Officer Carlos David Madrigal Gonzalez purchased 2,107 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of C$27.06 per share, with a total value of C$57,010.36. Also, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of C$27.78 per share, with a total value of C$499,991.40. 0.26% of the stock is currently owned by company insiders.

Element Fleet Management Price Performance

Element Fleet Management stock opened at C$28.70 on Monday. The company has a debt-to-equity ratio of 303.64, a quick ratio of 5.70 and a current ratio of 7.04. Element Fleet Management has a one year low of C$21.20 and a one year high of C$30.49. The company has a market cap of C$8.23 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The business has a fifty day moving average of C$28.54 and a two-hundred day moving average of C$28.78.

Element Fleet Management Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Element Fleet Management’s previous quarterly dividend of $0.12. Element Fleet Management’s dividend payout ratio is 39.84%.

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.