Element Fleet Management (TSE:EFN) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Element Fleet Management Corp. (TSE:EFN)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$25.11 and traded as high as C$29.67. Element Fleet Management shares last traded at C$29.50, with a volume of 843,109 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on EFN shares. Royal Bank of Canada increased their target price on Element Fleet Management from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. National Bankshares lifted their price objective on shares of Element Fleet Management from C$34.00 to C$37.00 in a report on Friday, September 27th. TD Securities increased their target price on shares of Element Fleet Management from C$30.00 to C$32.00 in a report on Friday, September 20th. CIBC increased their price objective on shares of Element Fleet Management from C$28.00 to C$30.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Scotiabank raised their target price on shares of Element Fleet Management from C$27.00 to C$28.00 in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$31.88.

Element Fleet Management Stock Down 0.7 %

The firm has a market cap of C$11.92 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The firm’s 50-day moving average price is C$27.81 and its 200 day moving average price is C$25.22. The company has a quick ratio of 5.70, a current ratio of 8.22 and a debt-to-equity ratio of 303.14.

Element Fleet Management (TSE:EFN) last posted its earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 EPS for the quarter, topping the consensus estimate of C$0.37 by C$0.03. Element Fleet Management had a net margin of 23.41% and a return on equity of 12.58%. The firm had revenue of C$375.68 million during the quarter, compared to analysts’ expectations of C$368.46 million. As a group, research analysts expect that Element Fleet Management Corp. will post 1.6869159 earnings per share for the current year.

Element Fleet Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.62%. The ex-dividend date was Friday, September 27th. Element Fleet Management’s dividend payout ratio is currently 38.10%.

Insider Buying and Selling at Element Fleet Management

In related news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of Element Fleet Management stock in a transaction that occurred on Thursday, September 5th. The stock was acquired at an average price of C$27.67 per share, with a total value of C$498,074.40. 0.26% of the stock is owned by company insiders.

About Element Fleet Management

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.