Element Fleet Management (TSE:EFN) Releases Quarterly Earnings Results

Element Fleet Management (TSE:EFN) announced its quarterly earnings results on Wednesday. The financial services provider reported C$0.49 EPS for the quarter, FiscalAI reports. The business had revenue of C$879.58 million for the quarter. Element Fleet Management had a return on equity of 10.09% and a net margin of 12.07%.

Element Fleet Management Trading Down 6.7%

Shares of EFN opened at C$28.90 on Friday. The stock has a fifty day moving average price of C$31.58 and a two-hundred day moving average price of C$34.34. The company has a debt-to-equity ratio of 363.75, a quick ratio of 5.70 and a current ratio of 4.05. Element Fleet Management has a 52-week low of C$28.89 and a 52-week high of C$38.26. The company has a market cap of C$11.48 billion, a price-to-earnings ratio of 41.88, a PEG ratio of 2.97 and a beta of 0.32.

Element Fleet Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 15th were given a $0.15 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 annualized dividend and a yield of 2.1%. Element Fleet Management’s payout ratio is presently 54.23%.

Analysts Set New Price Targets

Several analysts recently commented on the company. TD Securities decreased their price target on Element Fleet Management from C$42.00 to C$41.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Royal Bank Of Canada set a C$47.00 price target on Element Fleet Management and gave the company an “outperform” rating in a research note on Monday, January 26th. Jefferies Financial Group raised Element Fleet Management from a “hold” rating to a “buy” rating in a research note on Monday, February 23rd. National Bank Financial boosted their price target on Element Fleet Management from C$48.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Finally, Raymond James Financial lowered Element Fleet Management from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from C$42.50 to C$42.00 in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$43.43.

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. The company’s suite of fleet management services deals with acquisition and financing, to program management and remarketing. ECN Capital operates across North America in three verticals of the equipment finance market: commercial and vendor finance, rail finance, and commercial aviation finance.