Element Fleet Management (TSE:EFN) Given New C$33.00 Price Target at CIBC

Element Fleet Management (TSE:EFN) had its price target raised by CIBC from C$30.00 to C$33.00 in a report published on Thursday, BayStreet.CA reports.

Several other equities research analysts also recently issued reports on the company. National Bankshares increased their price objective on Element Fleet Management from C$34.00 to C$37.00 in a research note on Friday, September 27th. Scotiabank increased their price target on shares of Element Fleet Management from C$27.00 to C$28.00 in a research report on Wednesday, July 24th. BMO Capital Markets boosted their price objective on shares of Element Fleet Management from C$28.00 to C$32.00 in a research report on Thursday, August 15th. Royal Bank of Canada upped their price objective on shares of Element Fleet Management from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Finally, Raymond James lifted 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. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Element Fleet Management has an average rating of “Moderate Buy” and an average target price of C$32.25.

Element Fleet Management Stock Up 0.1 %

TSE EFN opened at C$28.53 on Thursday. Element Fleet Management has a 12 month low of C$18.92 and a 12 month high of C$30.04. The company has a market capitalization of C$11.51 billion, a P/E ratio of 22.29, a PEG ratio of 2.97 and a beta of 0.91. The company’s 50 day simple moving average is C$28.50 and its 200 day simple moving average is C$25.84. The company has a debt-to-equity ratio of 303.14, a current ratio of 8.22 and a quick ratio of 5.70.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.37 by C$0.03. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. The firm had revenue of C$375.68 million for the quarter, compared to analysts’ expectations of C$368.46 million. Equities research analysts expect that Element Fleet Management will post 1.6884016 earnings per share for the current fiscal year.

Element Fleet Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.48 annualized dividend and a yield of 1.68%. Element Fleet Management’s dividend payout ratio is 37.50%.

Insiders Place Their Bets

In other news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were acquired at an average cost of C$27.67 per share, for a total transaction of C$498,074.40. Corporate insiders own 0.26% 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.