Element Financial (TSE:EFN) Given New C$8.50 Price Target at Raymond James Financial

Element Financial (TSE:EFN) had its price objective lowered by stock analysts at Raymond James Financial from C$11.00 to C$8.50 in a research note issued on Friday, March 16th. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Raymond James Financial’s price objective indicates a potential upside of 91.01% from the company’s current price.

EFN has been the subject of a number of other reports. Royal Bank of Canada decreased their target price on Element Financial from C$12.00 to C$8.00 and set an “outperform” rating for the company in a research note on Tuesday, February 6th. Barclays decreased their target price on Element Financial from C$11.00 to C$6.00 in a research note on Wednesday, March 7th. CIBC cut Element Financial from an “outperform” rating to a “neutral” rating and decreased their target price for the company from C$12.00 to C$8.50 in a research note on Tuesday, February 6th. National Bank Financial cut Element Financial from a “sector perform” rating to an “underperform” rating and reduced their price objective for the stock from C$10.50 to C$8.00 in a research report on Tuesday, February 6th. Finally, TD Securities reduced their price objective on Element Financial from C$10.50 to C$7.50 and set a “hold” rating for the company in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of C$6.90.

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TSE:EFN traded up C$0.14 on Friday, reaching C$4.45. The company’s stock had a trading volume of 2,542,687 shares, compared to its average volume of 3,218,350. Element Financial has a 1-year low of C$3.21 and a 1-year high of C$12.46.

Element Financial (TSE:EFN) last posted its earnings results on Thursday, March 15th. The financial services provider reported C$0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of C$0.19. The business had revenue of C$229.81 million during the quarter, compared to analyst estimates of C$239.00 million.

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About Element Financial

Element Fleet Management Corp. operates as a fleet management company in North America. 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.

Analyst Recommendations for Element Financial (TSE:EFN)

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