Element Fleet Management (TSE:EFN) Hits New 12-Month Low – Here’s What Happened

Element Fleet Management Corp. (TSE:EFN)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$26.16 and last traded at C$27.59, with a volume of 2909657 shares changing hands. The stock had previously closed at C$26.85.

Analyst Ratings Changes

A number of research firms recently issued reports on EFN. Jefferies Financial Group raised Element Fleet Management from a “hold” rating to a “buy” rating in a research report on Monday, February 23rd. National Bank Financial lifted their target price on Element Fleet Management from C$48.00 to C$50.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Raymond James Financial downgraded Element Fleet Management from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from C$42.50 to C$42.00 in a research report on Thursday, May 7th. TD Securities lowered their target price on Element Fleet Management from C$42.00 to C$41.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, Royal Bank Of Canada lowered their target price on Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Element Fleet Management presently has an average rating of “Buy” and a consensus target price of C$41.88.

Element Fleet Management Price Performance

The company has a quick ratio of 5.70, a current ratio of -1,554.01 and a debt-to-equity ratio of 358.10. The firm has a market cap of C$10.93 billion, a P/E ratio of 37.28, a PEG ratio of 2.97 and a beta of 0.32. The business has a fifty day moving average of C$31.24 and a 200 day moving average of C$34.14.

Element Fleet Management (TSE:EFN) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 EPS for the quarter. Element Fleet Management had a return on equity of 10.62% and a net margin of 12.38%.The business had revenue of C$879.58 million during the quarter. On average, sell-side analysts anticipate that Element Fleet Management Corp. will post 1.6884016 earnings per share for the current year.

Element Fleet Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.60 dividend on an annualized basis and a yield of 2.2%. Element Fleet Management’s dividend payout ratio (DPR) is presently 52.84%.

About Element Fleet Management

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.