Element Fleet Management (TSE:EFN) Hits New 12-Month Low – Here’s What Happened

Element Fleet Management Corp. (TSE:EFN)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$26.16 and last traded at C$27.59, with a volume of 2909657 shares traded. The stock had previously closed at C$26.85.

Analysts Set New Price Targets

EFN has been the subject of a number of research analyst reports. TD Securities reduced their price objective 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. Royal Bank Of Canada reduced their price objective on 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. Jefferies Financial Group upgraded Element Fleet Management from a “hold” rating to a “buy” rating in a report on Monday, February 23rd. Raymond James Financial cut 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 report on Thursday, May 7th. Finally, TD reduced their price objective on Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating for the company in a report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$41.88.

Element Fleet Management Trading Up 2.8%

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. The firm has a market capitalization of C$10.93 billion, a P/E ratio of 37.28, a PEG ratio of 2.97 and a beta of 0.32. The firm has a 50 day moving average of C$31.24 and a 200-day moving average of C$34.14.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 earnings per share (EPS) for the quarter. The business had revenue of C$879.58 million during the quarter. Element Fleet Management had a return on equity of 10.62% and a net margin of 12.38%. On average, equities research analysts predict that Element Fleet Management Corp. will post 1.6884016 earnings per share for the current fiscal year.

Element Fleet Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Tuesday, March 31st. Element Fleet Management’s payout ratio is 52.84%.

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.