National Bank Financial Trims Element Fleet Management (TSE:EFN) Target Price to C$13.00

Element Fleet Management (TSE:EFN) had its target price decreased by National Bank Financial from C$15.00 to C$13.00 in a research report report published on Tuesday morning, BayStreet.CA reports. National Bank Financial currently has an outperform rating on the financial services provider’s stock.

Several other analysts have also recently weighed in on EFN. Scotiabank lifted their price target on shares of Element Fleet Management from C$14.00 to C$14.50 in a report on Monday, February 24th. Cormark lifted their price target on shares of Element Fleet Management from C$11.25 to C$12.25 in a report on Wednesday, February 26th. BMO Capital Markets lifted their price target on shares of Element Fleet Management from C$13.00 to C$15.00 in a report on Thursday, February 20th. Royal Bank of Canada lifted their price target on shares of Element Fleet Management from C$16.00 to C$17.00 and gave the company a top pick rating in a report on Wednesday, February 26th. Finally, TD Securities lifted their price target on shares of Element Fleet Management from C$13.00 to C$15.00 and gave the company a buy rating in a report on Thursday, February 6th.

Shares of Element Fleet Management stock opened at C$9.19 on Tuesday. The company has a debt-to-equity ratio of 334.18, a quick ratio of 8.52 and a current ratio of 8.82. Element Fleet Management has a 52-week low of C$6.96 and a 52-week high of C$13.47. The stock has a market capitalization of $3.21 billion and a price-to-earnings ratio of 76.58. The company’s 50 day moving average price is C$11.70 and its 200-day moving average price is C$11.40.

Element Fleet Management (TSE:EFN) last released its quarterly earnings results on Tuesday, February 25th. The financial services provider reported C$0.23 earnings per share for the quarter, missing the consensus estimate of C$0.24 by C($0.01). The company had revenue of C$256.51 million for the quarter, compared to analyst estimates of C$246.00 million. As a group, equities research analysts forecast that Element Fleet Management will post 1.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 10.45%. The ex-dividend date of this dividend is Monday, March 30th. This is a boost from Element Fleet Management’s previous quarterly dividend of $0.05. Element Fleet Management’s payout ratio is 150.00%.

Element Fleet Management Company Profile

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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