Element Fleet Management (TSE:EFN) Posts Earnings Results

Element Fleet Management (TSE:EFN) announced its quarterly earnings results on Wednesday. The financial services provider reported C$0.48 EPS for the quarter, FiscalAI reports. Element Fleet Management had a return on equity of 10.62% and a net margin of 12.38%.The firm had revenue of C$451.94 million for the quarter.

Element Fleet Management Stock Performance

Shares of TSE:EFN traded down C$2.23 during trading on Thursday, hitting C$29.25. The stock had a trading volume of 476,552 shares, compared to its average volume of 994,315. 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. Element Fleet Management has a 12-month low of C$25.32 and a 12-month high of C$38.26. The stock has a market capitalization of C$11.58 billion, a price-to-earnings ratio of 39.53, a price-to-earnings-growth ratio of 2.97 and a beta of 0.61. The stock has a 50-day simple moving average of C$29.14 and a two-hundred day simple moving average of C$30.92.

Element Fleet Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. 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 52.84%.

Insider Buying and Selling

In related news, Director George Keith Graham acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was acquired at an average price of C$28.00 per share, with a total value of C$56,000.00. Following the acquisition, the director directly owned 27,000 shares in the company, valued at C$756,000. This represents a 8.00% increase in their position. Also, insider James Halliday sold 67,102 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of C$28.07, for a total value of C$1,883,553.14. Following the completion of the transaction, the insider directly owned 54,301 shares of the company’s stock, valued at C$1,524,229.07. The trade was a 55.27% decrease in their ownership of the stock. In the last quarter, insiders have acquired 38,420 shares of company stock worth $1,073,612. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

EFN has been the subject of several recent research reports. Royal Bank Of Canada reduced their price target on shares of Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Raymond James Financial cut Element Fleet Management from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from C$42.50 to C$42.00 in a research report on Thursday, May 7th. Finally, TD reduced their price target on Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating for the company 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, the stock presently has an average rating of “Buy” and a consensus price target of C$41.88.

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.