Element Fleet Management (TSE:EFN) Stock Crosses Above 200-Day Moving Average of $22.62

Shares of Element Fleet Management Corp. (TSE:EFN) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$22.62 and traded as high as C$24.31. Element Fleet Management shares last traded at C$24.24, with a volume of 593,314 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EFN shares. National Bankshares increased their target price on Element Fleet Management from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. BMO Capital Markets lifted their target price on Element Fleet Management from C$26.00 to C$28.00 in a report on Thursday, May 16th. Veritas Investment Research restated a “reduce” rating on shares of Element Fleet Management in a research note on Thursday, February 29th. Raymond James increased their price objective on Element Fleet Management from C$26.00 to C$29.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 28th. Finally, CIBC boosted their target price on Element Fleet Management from C$25.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$28.50.

Element Fleet Management Stock Up 1.2 %

The stock has a market cap of C$9.42 billion, a P/E ratio of 20.03, a PEG ratio of 2.97 and a beta of 0.83. The company has a current ratio of 8.32, a quick ratio of 5.70 and a debt-to-equity ratio of 315.13. The company’s 50 day moving average price is C$23.43 and its two-hundred day moving average price is C$22.62.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings data on Tuesday, May 14th. The financial services provider reported C$0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.31 by C$0.05. Element Fleet Management had a net margin of 23.30% and a return on equity of 12.40%. The firm had revenue of C$353.83 million during the quarter, compared to the consensus estimate of C$333.85 million. Equities analysts forecast that Element Fleet Management Corp. will post 1.5226286 earnings per share for the current year.

Element Fleet Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.12 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.98%. Element Fleet Management’s dividend payout ratio (DPR) is presently 39.67%.

Insider Buying and Selling at Element Fleet Management

In related news, Senior Officer William Sutherland purchased 4,000 shares of Element Fleet Management stock in a transaction on Tuesday, June 18th. The shares were bought at an average cost of C$24.90 per share, for a total transaction of C$99,594.00. In other Element Fleet Management news, Senior Officer William Sutherland bought 4,000 shares of Element Fleet Management stock in a transaction dated Tuesday, June 18th. The shares were purchased at an average cost of C$24.90 per share, for a total transaction of C$99,594.00. Also, Senior Officer James Halliday sold 32,700 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of C$25.00, for a total transaction of C$817,500.00. Over the last ninety days, insiders have acquired 5,550 shares of company stock valued at $132,034 and have sold 68,974 shares valued at $1,716,749. Insiders own 0.23% 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.