Element Fleet Management (TSE:EFN) Downgraded to “Outperform” Rating by Raymond James Financial

Raymond James Financial lowered shares of Element Fleet Management (TSE:EFN) from a strong-buy rating to an outperform rating in a research report sent to investors on Thursday morning,BayStreet.CA reports. Raymond James Financial currently has C$42.00 price objective on the financial services provider’s stock, down from their prior price objective of C$42.50.

EFN has been the subject of a number of other reports. 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 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 note on Wednesday, February 4th. Royal Bank Of Canada set a C$47.00 price target on Element Fleet Management and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, TD Securities lowered their price target on Element Fleet Management from C$42.00 to C$41.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$43.43.

Element Fleet Management Stock Down 6.7%

Shares of EFN opened at C$28.90 on Thursday. 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 capitalization of C$11.48 billion, a PE ratio of 41.88, a price-to-earnings-growth ratio of 2.97 and a beta of 0.32. The stock has a fifty day simple moving average of C$31.58 and a two-hundred day simple moving average of C$34.34. The company has a quick ratio of 5.70, a current ratio of 4.05 and a debt-to-equity ratio of 363.75.

Element Fleet Management (TSE:EFN) last issued its earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 earnings per share (EPS) for the quarter. Element Fleet Management had a return on equity of 10.09% and a net margin of 12.07%.The business had revenue of C$879.58 million during the quarter. As a group, equities analysts forecast that Element Fleet Management will post 1.6884016 EPS for the current year.

Element Fleet Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders 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 dividend yield of 2.1%. Element Fleet Management’s dividend payout ratio is currently 54.23%.

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.