Element Fleet Management (TSE:EFN) Rating Lowered to Outperform at Raymond James Financial

Element Fleet Management (TSE:EFN) was downgraded by research analysts at Raymond James Financial from a “strong-buy” rating to an “outperform” rating in a report released on Thursday,BayStreet.CA reports. They currently have a C$42.00 price objective on the financial services provider’s stock, down from their prior price objective of C$42.50. Raymond James Financial’s price target would indicate a potential upside of 50.00% from the stock’s current price.

EFN has been the topic of several other research reports. TD Securities lowered their price objective 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. Jefferies Financial Group upgraded Element Fleet Management from a “hold” rating to a “buy” rating in a research report on Monday, February 23rd. Royal Bank Of Canada set a C$47.00 price objective on Element Fleet Management and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, National Bank Financial increased their price objective on Element Fleet Management from C$48.00 to C$50.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$41.88.

Element Fleet Management Stock Down 3.1%

EFN opened at C$28.00 on Thursday. Element Fleet Management has a 1-year low of C$27.83 and a 1-year high of C$38.26. The stock’s fifty day simple moving average is C$31.58 and its 200 day simple moving average is C$34.34. The company has a current ratio of -1,554.01, a quick ratio of 5.70 and a debt-to-equity ratio of 358.10. The stock has a market cap of C$11.09 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 2.97 and a beta of 0.32.

Element Fleet Management (TSE:EFN) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 earnings per share 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 for the quarter. As a group, research analysts expect that Element Fleet Management will post 1.6884016 earnings per share for the current year.

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.