Element Fleet Management (EFN) Stock Price Up 15% Following Analyst Upgrade

Element Fleet Management Corp (TSE:EFN)’s share price traded up 15% during trading on Wednesday after TD Securities raised their price target on the stock from C$10.00 to C$11.00. TD Securities currently has a buy rating on the stock. Element Fleet Management traded as high as C$10.19 and last traded at C$9.60. 1,340,581 shares changed hands during trading, an increase of 54% from the average session volume of 868,779 shares. The stock had previously closed at C$8.35.

Other equities research analysts have also recently issued research reports about the company. Raymond James reaffirmed a “strong-buy” rating and issued a C$10.50 price target on shares of Element Fleet Management in a report on Monday, April 8th. BMO Capital Markets increased their price target on Element Fleet Management from C$10.00 to C$12.00 in a report on Thursday. Royal Bank of Canada increased their price target on Element Fleet Management from C$10.00 to C$12.00 and gave the company a “top pick” rating in a report on Wednesday. National Bank Financial increased their price target on Element Fleet Management from C$10.00 to C$12.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, CIBC increased their price target on Element Fleet Management from C$10.00 to C$12.00 in a report on Wednesday. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of C$10.50.

The company has a debt-to-equity ratio of 358.11, a current ratio of 12.73 and a quick ratio of 12.27. The company has a market capitalization of $4.10 billion and a PE ratio of -15.33.

Element Fleet Management (TSE:EFN) last posted its earnings results on Wednesday, March 6th. The financial services provider reported C$0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.17 by C($0.01). The business had revenue of C$221.48 million during the quarter, compared to the consensus estimate of C$214.00 million. On average, research analysts anticipate that Element Fleet Management Corp will post 0.899999924910614 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.045 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.18 annualized dividend and a yield of 1.89%. Element Fleet Management’s dividend payout ratio (DPR) is -43.48%.

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About Element Fleet Management (TSE:EFN)

Element Fleet Management Corp. operates as a fleet management company in Canada, the United States, and internationally. The company offers fleet management services, including acquisition, financing, program management, and remarketing services for cars and light duty vehicles, medium and heavy duty trucks, material handling equipment, automobiles, and specialty vehicles and equipment, as well as corporate, municipal, and industrial fleets.

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