Element Fleet Management Corp (TSE:EFN) – Stock analysts at Raymond James increased their Q2 2019 earnings per share estimates for Element Fleet Management in a research report issued on Wednesday, May 8th. Raymond James analyst B. Phelan now anticipates that the financial services provider will post earnings per share of $0.22 for the quarter, up from their previous forecast of $0.19. Raymond James has a “Strong-Buy” rating and a $11.50 price target on the stock. Raymond James also issued estimates for Element Fleet Management’s Q3 2019 earnings at $0.22 EPS, Q4 2019 earnings at $0.23 EPS, FY2019 earnings at $0.87 EPS, Q1 2020 earnings at $0.24 EPS, Q2 2020 earnings at $0.25 EPS, Q3 2020 earnings at $0.25 EPS, Q4 2020 earnings at $0.26 EPS and FY2020 earnings at $1.00 EPS.
Other analysts have also issued reports about the company. Royal Bank of Canada upgraded Element Fleet Management from an “outperform” rating to a “top pick” rating and boosted their target price for the company from C$9.50 to C$10.00 in a research note on Wednesday, April 24th. National Bank Financial boosted their target price on Element Fleet Management from C$10.00 to C$12.00 and gave the company an “outperform” rating in a research note on Wednesday. TD Securities lifted their price target on Element Fleet Management from C$10.00 to C$11.00 and gave the company a “buy” rating in a research report on Thursday. CIBC lifted their price target on Element Fleet Management from C$10.00 to C$12.00 in a research report on Wednesday. Finally, BMO Capital Markets lifted their price target on Element Fleet Management from C$10.00 to C$12.00 in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Element Fleet Management presently has an average rating of “Buy” and a consensus price target of C$10.50.
Element Fleet Management (TSE:EFN) last issued its earnings results on Wednesday, March 6th. The financial services provider reported C$0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.17 by C($0.01). The business had revenue of C$221.48 million during the quarter, compared to analysts’ expectations of C$214.00 million.
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Thursday, March 28th. Element Fleet Management’s dividend payout ratio (DPR) is presently -38.65%.
About Element Fleet Management
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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