Element Fleet Management Corp. (TSE:EFN) Plans $0.12 Quarterly Dividend

Element Fleet Management Corp. (TSE:EFN) declared a quarterly dividend on Tuesday, May 14th, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.12 per share by the financial services provider on Monday, July 15th. This represents a $0.48 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, June 28th.

Element Fleet Management Stock Performance

Shares of Element Fleet Management stock opened at C$24.24 on Wednesday. The company has a market capitalization of C$9.42 billion, a PE ratio of 20.03, a P/E/G ratio of 2.97 and a beta of 0.83. The company has a debt-to-equity ratio of 315.13, a quick ratio of 5.70 and a current ratio of 8.32. The company has a 50-day simple moving average of C$23.43 and a two-hundred day simple moving average of C$22.62. Element Fleet Management has a one year low of C$18.50 and a one year high of C$25.35.

Element Fleet Management (TSE:EFN) last announced its earnings results on Tuesday, May 14th. The financial services provider reported C$0.36 EPS for the quarter, topping analysts’ consensus estimates of C$0.31 by C$0.05. The business had revenue of C$353.83 million during the quarter, compared to the consensus estimate of C$333.85 million. Element Fleet Management had a net margin of 23.30% and a return on equity of 12.40%. Research analysts expect that Element Fleet Management will post 1.5226286 EPS for the current fiscal year.

Analysts Set New Price Targets

EFN has been the topic of several recent analyst reports. BMO Capital Markets upped their price objective on shares of Element Fleet Management from C$26.00 to C$28.00 in a report on Thursday, May 16th. Scotiabank increased their price target on shares of Element Fleet Management from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Veritas Investment Research reiterated a “reduce” rating on shares of Element Fleet Management in a report on Thursday, February 29th. National Bankshares increased their price target on shares of Element Fleet Management from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Finally, Raymond James increased their price target on shares of Element Fleet Management from C$26.00 to C$29.00 and gave the stock a “strong-buy” rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$28.50.

Insider Activity

In other news, Director George Keith Graham sold 25,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of C$24.70, for a total transaction of C$617,500.00. In related news, Senior Officer William Sutherland bought 4,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was acquired at an average cost of C$24.90 per share, with a total value of C$99,594.00. Also, Director George Keith Graham sold 25,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of C$24.70, for a total value of C$617,500.00. In the last quarter, insiders have acquired 5,550 shares of company stock worth $132,034 and have sold 68,974 shares worth $1,716,749. Insiders own 0.23% of the company’s stock.

Element Fleet Management Company Profile

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.