Element Fleet Management Corp. to Issue Quarterly Dividend of $0.12 (TSE:EFN)

Element Fleet Management Corp. (TSE:EFN) declared a quarterly dividend on Tuesday, May 14th, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.12 per share by the financial services provider on Monday, July 15th. This represents a $0.48 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, June 28th.

Element Fleet Management Stock Performance

Shares of TSE:EFN traded up C$0.05 on Thursday, hitting C$23.91. The company’s stock had a trading volume of 68,764 shares, compared to its average volume of 513,138. Element Fleet Management has a 12 month low of C$18.50 and a 12 month high of C$24.11. The company has a market capitalization of C$9.31 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 2.97 and a beta of 0.83. The stock’s 50-day moving average is C$22.08 and its two-hundred day moving average is C$21.89. The company has a debt-to-equity ratio of 280.50, a quick ratio of 5.70 and a current ratio of 6.78.

Element Fleet Management (TSE:EFN) last announced its earnings results on Tuesday, February 27th. The financial services provider reported C$0.33 earnings per share for the quarter, beating the consensus estimate of C$0.32 by C$0.01. Element Fleet Management had a return on equity of 12.30% and a net margin of 23.38%. The business had revenue of C$333.36 million during the quarter, compared to analysts’ expectations of C$334.92 million. On average, equities research analysts forecast that Element Fleet Management will post 1.0547496 EPS for the current year.

Insider Activity

In other news, Senior Officer James Halliday sold 33,664 shares of Element Fleet Management stock in a transaction dated Friday, March 1st. The stock was sold at an average price of C$23.01, for a total transaction of C$774,608.64. In other news, Senior Officer Yu Xiang Jin bought 2,500 shares of Element Fleet Management stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average cost of C$22.02 per share, with a total value of C$55,050.00. Also, Senior Officer James Halliday sold 33,664 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of C$23.01, for a total value of C$774,608.64. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on EFN shares. TD Securities raised their target price on Element Fleet Management from C$27.00 to C$28.00 and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets increased their price target on Element Fleet Management from C$24.00 to C$26.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Veritas Investment Research reissued a “reduce” rating on shares of Element Fleet Management in a research note on Thursday, February 29th. Raymond James lifted their price target on Element Fleet Management from C$26.00 to C$29.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, February 28th. Finally, CIBC lifted their price target on Element Fleet Management from C$24.00 to C$25.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$27.75.

About Element Fleet Management

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, Mexico, Australia, and New Zealand. The company offers end-to-end fleet cars, trucks, and material handling support equipment acquisition; and end-to-end electric vehicle fleet including fleet planning, charging infrastructure solutions, acquisition, financing, maintenance, and remarketing.