Element Fleet Management (TSE:EFN) Director Acquires C$56,000.00 in Stock

Element Fleet Management Corp. (TSE:EFN) Director George Keith Graham purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was bought at an average price of C$28.00 per share, for a total transaction of C$56,000.00. Following the purchase, the director directly owned 27,000 shares in the company, valued at C$756,000. The trade was a 8.00% increase in their ownership of the stock.

Element Fleet Management Stock Up 3.1%

Shares of Element Fleet Management stock traded up C$0.87 during midday trading on Wednesday, hitting C$28.74. The company had a trading volume of 1,236,618 shares, compared to its average volume of 1,005,004. The company has a debt-to-equity ratio of 358.10, a quick ratio of 5.70 and a current ratio of -1,554.01. The stock has a market capitalization of C$11.38 billion, a P/E ratio of 38.84, a P/E/G ratio of 2.97 and a beta of 0.66. The company has a 50 day moving average of C$29.27 and a 200 day moving average of C$32.42. Element Fleet Management Corp. has a 52-week low of C$25.32 and a 52-week high of C$38.26.

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. The company had revenue of C$879.58 million for the quarter. Element Fleet Management had a return on equity of 10.62% and a net margin of 12.38%. On average, equities analysts predict that Element Fleet Management Corp. will post 1.6884016 earnings per share for the current fiscal year.

Element Fleet Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 2.1%. Element Fleet Management’s dividend payout ratio is presently 52.84%.

Wall Street Analysts Forecast Growth

EFN has been the topic of several recent research reports. Royal Bank Of Canada cut their price target on Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. TD cut their price target on Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. TD Securities cut 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. Raymond James Financial downgraded Element Fleet Management from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from C$42.50 to C$42.00 in a research note on Thursday, May 7th. Finally, Jefferies Financial Group raised Element Fleet Management from a “hold” rating to a “buy” rating in a research report on Monday, February 23rd. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$41.88.

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.