Element Fleet Management (TSE:EFN) Sets New 52-Week High at $28.34

Element Fleet Management Corp. (TSE:EFN)’s share price hit a new 52-week high on Wednesday . The company traded as high as C$28.34 and last traded at C$28.30, with a volume of 275331 shares changing hands. The stock had previously closed at C$28.18.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Royal Bank of Canada upped their price objective on Element Fleet Management from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Jefferies Financial Group upped their price target on Element Fleet Management from C$28.00 to C$31.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Raymond James lifted their price objective on Element Fleet Management from C$29.00 to C$30.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 14th. Scotiabank upped their target price on shares of Element Fleet Management from C$27.00 to C$28.00 in a research report on Wednesday, July 24th. Finally, TD Securities boosted their price target on shares of Element Fleet Management from C$28.00 to C$30.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$31.25.

Element Fleet Management Stock Up 0.4 %

The firm has a market cap of C$11.48 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The firm’s 50 day moving average is C$26.60 and its two-hundred day moving average is C$24.26. The company has a current ratio of 8.22, a quick ratio of 5.70 and a debt-to-equity ratio of 303.14.

Element Fleet Management (TSE:EFN) last announced 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 net margin of 23.41% and a return on equity of 12.58%. The company had revenue of C$375.68 million for the quarter, compared to analysts’ expectations of C$368.46 million. As a group, research analysts anticipate that Element Fleet Management Corp. will post 1.5374037 EPS for the current fiscal year.

Element Fleet Management Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, September 27th. This represents a $0.48 annualized dividend and a yield of 1.69%. Element Fleet Management’s dividend payout ratio is presently 38.40%.

Insiders Place Their Bets

In other Element Fleet Management news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were acquired at an average price of C$27.67 per share, for a total transaction of C$498,074.40. In related news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of the company’s stock in a transaction that occurred on 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. Also, Senior Officer William Sutherland acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was bought at an average cost of C$24.90 per share, for a total transaction of C$99,594.00. Corporate insiders own 0.22% 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.