Element Fleet Management (TSE:EFN) Issues Earnings Results

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

Element Fleet Management Trading Down 6.7%

Shares of TSE:EFN traded down C$2.07 during trading on Thursday, reaching C$28.90. The stock had a trading volume of 1,539,807 shares, compared to its average volume of 866,683. 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 debt-to-equity ratio of 363.75, a quick ratio of 5.70 and a current ratio of 4.05. The firm’s fifty day moving average is C$31.58 and its 200 day moving average is C$34.34. The stock has a market cap of C$11.48 billion, a price-to-earnings ratio of 41.88, a P/E/G ratio of 2.97 and a beta of 0.32.

Element Fleet Management Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have issued reports on EFN shares. TD Securities decreased their price target on shares of Element Fleet Management from C$42.00 to C$41.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Royal Bank Of Canada set a C$47.00 price target on shares of Element Fleet Management and gave the stock an “outperform” rating in a report on Monday, January 26th. Raymond James Financial cut shares of Element Fleet Management from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from C$42.50 to C$42.00 in a research note on Thursday. National Bank Financial raised their target price 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. Finally, Jefferies Financial Group raised Element Fleet Management from a “hold” rating to a “buy” rating in a report on Monday, February 23rd. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Element Fleet Management presently has an average rating of “Buy” and a consensus target price of C$43.43.

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.