National Bank Financial Weighs in on TSE:EFN FY2024 Earnings

Element Fleet Management Corp. (TSE:EFN) – Investment analysts at National Bank Financial boosted their FY2024 EPS estimates for Element Fleet Management in a research note issued to investors on Wednesday, November 13th. National Bank Financial analyst J. Gloyn now anticipates that the financial services provider will earn $1.56 per share for the year, up from their prior estimate of $1.55. The consensus estimate for Element Fleet Management’s current full-year earnings is $1.69 per share. National Bank Financial also issued estimates for Element Fleet Management’s Q4 2024 earnings at $0.38 EPS, Q1 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.46 EPS and FY2026 earnings at $1.95 EPS.

Element Fleet Management (TSE:EFN) last released its quarterly earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, topping the consensus estimate of C$0.37 by C$0.03. Element Fleet Management had a net margin of 23.41% and a return on equity of 12.58%. The firm had revenue of C$375.68 million during the quarter, compared to the consensus estimate of C$368.46 million.

Other research analysts have also issued research reports about the company. National Bankshares lifted their price target on Element Fleet Management from C$37.00 to C$39.00 in a report on Thursday. CIBC lifted their target price on Element Fleet Management from C$30.00 to C$33.00 in a research report on Thursday, October 31st. Jefferies Financial Group lowered shares of Element Fleet Management from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$32.00 to C$30.00 in a report on Friday. BMO Capital Markets lifted their price target on shares of Element Fleet Management from C$28.00 to C$32.00 in a research report on Thursday, August 15th. Finally, Royal Bank of Canada increased their price objective on shares of Element Fleet Management from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Element Fleet Management currently has an average rating of “Moderate Buy” and an average target price of C$33.50.

Element Fleet Management Stock Up 0.1 %

Shares of EFN opened at C$27.11 on Friday. The stock has a 50 day moving average price of C$28.66 and a 200 day moving average price of C$26.26. 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 stock has a market capitalization of C$10.94 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.97 and a beta of 0.91. Element Fleet Management has a one year low of C$20.62 and a one year high of C$30.04.

Insider Activity at Element Fleet Management

In other Element Fleet Management news, Senior Officer Laura Lee Dottori-Attanasio purchased 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. 0.26% of the stock is owned by corporate insiders.

Element Fleet Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were given a $0.12 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.48 annualized dividend and a dividend yield of 1.77%. Element Fleet Management’s dividend payout ratio is presently 37.50%.

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.