FY2024 EPS Estimates for Element Fleet Management Corp. (TSE:EFN) Cut by Analyst

Element Fleet Management Corp. (TSE:EFNFree Report) – Investment analysts at National Bank Financial decreased their FY2024 EPS estimates for Element Fleet Management in a research note issued to investors on Sunday, February 4th. National Bank Financial analyst J. Gloyn now expects that the financial services provider will post earnings per share of $1.30 for the year, down from their previous estimate of $1.43. The consensus estimate for Element Fleet Management’s current full-year earnings is $1.46 per share. National Bank Financial also issued estimates for Element Fleet Management’s FY2025 earnings at $1.44 EPS.

Element Fleet Management (TSE:EFNGet Free Report) last released its earnings results on Monday, November 6th. The financial services provider reported C$0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.32 by C$0.03. Element Fleet Management had a net margin of 23.93% and a return on equity of 12.10%. The firm had revenue of C$333.77 million during the quarter, compared to analyst estimates of C$324.00 million.

Several other research firms have also issued reports on EFN. Scotiabank lifted their target price on shares of Element Fleet Management from C$22.00 to C$25.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st. Royal Bank of Canada lifted their target price on shares of Element Fleet Management from C$30.00 to C$31.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Finally, Raymond James reduced their price target on shares of Element Fleet Management from C$27.00 to C$26.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 7th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$26.86.

View Our Latest Report on EFN

Element Fleet Management Price Performance

EFN stock opened at C$22.75 on Tuesday. The firm has a 50 day moving average price of C$22.08 and a 200-day moving average price of C$20.88. Element Fleet Management has a 52-week low of C$17.00 and a 52-week high of C$23.27. The firm has a market capitalization of C$8.85 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.97 and a beta of 0.81. The company has a debt-to-equity ratio of 270.33, a quick ratio of 5.70 and a current ratio of 6.64.

Insider Activity at Element Fleet Management

In other Element Fleet Management news, Senior Officer Carlos David Madrigal Gonzalez sold 7,383 shares of Element Fleet Management stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of C$21.33, for a total value of C$157,479.39. In other Element Fleet Management news, Senior Officer James Halliday sold 8,700 shares of Element Fleet Management stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of C$21.00, for a total value of C$182,700.00. Also, Senior Officer Carlos David Madrigal Gonzalez sold 7,383 shares of Element Fleet Management stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of C$21.33, for a total transaction of C$157,479.39. Insiders sold 61,256 shares of company stock valued at $1,293,330 over the last 90 days. Corporate insiders own 0.24% of the company’s stock.

Element Fleet Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Monday, January 15th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.48 annualized dividend and a dividend yield of 2.11%. This is an increase from Element Fleet Management’s previous quarterly dividend of $0.10. Element Fleet Management’s dividend payout ratio (DPR) is 44.44%.

About Element Fleet Management

(Get Free Report)

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, the United States, Mexico, Australia, and New Zealand. It 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.

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