Element Fleet Management (TSE:EFN) Sets New 12-Month High Following Dividend Announcement

Shares of Element Fleet Management Corp. (TSE:EFN) hit a new 52-week high on Monday following a dividend announcement from the company. The stock traded as high as C$28.81 and last traded at C$28.76, with a volume of 600328 shares. The stock had previously closed at C$28.49.

The newly announced dividend which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Friday, September 27th. Element Fleet Management’s dividend payout ratio (DPR) is 38.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EFN shares. TD Securities increased their price objective on Element Fleet Management from C$30.00 to C$32.00 in a report on Friday, September 20th. Jefferies Financial Group lifted their price target on shares of Element Fleet Management from C$28.00 to C$31.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. CIBC lifted their target price on shares of Element Fleet Management from C$28.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Raymond James boosted their target price on shares of Element Fleet Management from C$29.00 to C$30.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 14th. Finally, BMO Capital Markets increased their target price on Element Fleet Management from C$28.00 to C$32.00 in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$31.88.

Element Fleet Management Price Performance

The company has a debt-to-equity ratio of 303.14, a quick ratio of 5.70 and a current ratio of 8.22. The business’s fifty day simple moving average is C$27.14 and its 200 day simple moving average is C$24.67. The stock has a market cap of C$11.61 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91.

Element Fleet Management (TSE:EFN) last announced its earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.37 by C$0.03. The company had revenue of C$375.68 million for the quarter, compared to analyst estimates of C$368.46 million. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. Research analysts predict that Element Fleet Management Corp. will post 1.6895933 EPS for the current fiscal year.

Insider Buying and Selling at Element Fleet Management

In other Element Fleet Management news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was acquired at an average price of C$27.67 per share, with a total value of C$498,074.40. 0.23% of the stock is currently owned by insiders.

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.