Element Fleet Management (TSE:EFN) Price Target Raised to C$34.00 at Raymond James

Element Fleet Management (TSE:EFN) had its price target lifted by Raymond James from C$30.00 to C$34.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports.

Several other equities analysts also recently weighed in on the company. CIBC raised their price objective on Element Fleet Management from C$30.00 to C$33.00 in a research note on Thursday, October 31st. National Bankshares raised their price target on Element Fleet Management from C$34.00 to C$37.00 in a research report on Friday, September 27th. Scotiabank cut their price target on Element Fleet Management from C$33.00 to C$32.00 in a research note on Thursday. TD Securities increased their price objective on shares of Element Fleet Management from C$32.00 to C$33.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada raised their target price on shares of 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. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Element Fleet Management currently has an average rating of “Moderate Buy” and a consensus price target of C$33.63.

Element Fleet Management Price Performance

Shares of EFN traded up C$0.43 during trading hours on Thursday, reaching C$27.50. The company had a trading volume of 193,237 shares, compared to its average volume of 543,230. The company has a market capitalization of C$11.10 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 2.97 and a beta of 0.91. Element Fleet Management has a 12-month low of C$20.62 and a 12-month high of C$30.04. The firm has a 50 day simple moving average of C$28.68 and a 200-day simple moving average of C$26.22. The company has a current ratio of 8.22, a quick ratio of 5.70 and a debt-to-equity ratio of 303.14.

Element Fleet Management (TSE:EFN) last issued its earnings results 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 company had revenue of C$375.68 million during the quarter, compared to analysts’ expectations of C$368.46 million. Element Fleet Management had a net margin of 23.41% and a return on equity of 12.58%. Research analysts expect that Element Fleet Management will post 1.6884016 earnings per share for the current year.

Element Fleet Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.48 dividend on an annualized basis and a yield of 1.75%. Element Fleet Management’s dividend payout ratio (DPR) is 37.50%.

Insiders Place Their Bets

In other Element Fleet Management news, Senior Officer Laura Lee Dottori-Attanasio purchased 18,000 shares of Element Fleet Management stock in a transaction on Thursday, September 5th. The shares were bought 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 corporate 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.