Brokers Set Expectations for TSE:EFN FY2024 Earnings

Element Fleet Management Corp. (TSE:EFN) – Stock analysts at National Bank Financial raised their FY2024 earnings per share estimates for Element Fleet Management in a report released on Tuesday, October 29th. National Bank Financial analyst J. Gloyn now forecasts that the financial services provider will earn $1.55 per share for the year, up from their previous estimate of $1.53. 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 FY2025 earnings at $1.74 EPS.

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

Several other research firms have also recently issued reports on EFN. Scotiabank increased their price objective on shares of Element Fleet Management from C$27.00 to C$28.00 in a report on Wednesday, July 24th. BMO Capital Markets increased their price target on Element Fleet Management from C$28.00 to C$32.00 in a research note on Thursday, August 15th. TD Securities lifted their price target on Element Fleet Management from C$30.00 to C$32.00 in a research report on Friday, September 20th. Jefferies Financial Group upped their price objective on Element Fleet Management from C$28.00 to C$31.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Raymond James lifted their target price on Element Fleet Management from C$29.00 to C$30.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 14th. One investment 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$32.25.

Element Fleet Management Stock Performance

Shares of EFN opened at C$28.53 on Friday. The firm has a market capitalization of C$11.51 billion, a PE ratio of 22.29, a P/E/G ratio of 2.97 and a beta of 0.91. The company has a quick ratio of 5.70, a current ratio of 8.22 and a debt-to-equity ratio of 303.14. The firm has a 50-day moving average price of C$28.50 and a 200 day moving average price of C$25.84. Element Fleet Management has a 52-week low of C$18.92 and a 52-week high of C$30.04.

Element Fleet Management Announces Dividend

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 $0.12 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.48 annualized dividend and a dividend yield of 1.68%. Element Fleet Management’s payout ratio is 37.50%.

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 company’s 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.

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.