Element Fleet Management (OTCMKTS:ELEEF) Shares Gap Down on Disappointing Earnings

Shares of Element Fleet Management Corp. (OTCMKTS:ELEEF) gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $25.22, but opened at $23.83. Element Fleet Management shares last traded at $24.41, with a volume of 400 shares.

The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.01). The firm had revenue of $313.00 million during the quarter, compared to the consensus estimate of $317.79 million.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Raymond James Financial restated a “strong-buy” rating on shares of Element Fleet Management in a research note on Thursday, November 13th. Jefferies Financial Group raised shares of Element Fleet Management to a “buy” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to MarketBeat, Element Fleet Management currently has a consensus rating of “Buy”.

Element Fleet Management Price Performance

The company’s 50-day moving average is $25.49 and its two-hundred day moving average is $26.06.

About Element Fleet Management

Element Fleet Management (OTCMKTS:ELEEF) is a leading global fleet management company headquartered in Toronto, Ontario. It provides comprehensive fleet leasing and management solutions for corporate and public sector clients, aiming to optimize vehicle acquisition, utilization and disposal strategies. The company focuses on delivering customizable programs that enhance operational efficiency and reduce total cost of ownership for light-, medium- and heavy-duty vehicles across diverse industries.

Element’s service portfolio encompasses full-service leasing and financing, maintenance management, policy administration, telematics and data analytics, fuel management and end-of-lease remarketing.