Element Fleet Management (TSE:EFN) Share Price Crosses Above 200 Day Moving Average of $24.45

Element Fleet Management Corp. (TSE:EFN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$24.45 and traded as high as C$28.78. Element Fleet Management shares last traded at C$28.41, with a volume of 364,074 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. National Bankshares lifted their price target on Element Fleet Management from C$33.00 to C$34.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Jefferies Financial Group lifted their target price on shares of Element Fleet Management from C$28.00 to C$31.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. CIBC raised their price objective on shares of Element Fleet Management from C$28.00 to C$30.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Scotiabank boosted their target price on shares of Element Fleet Management from C$27.00 to C$28.00 in a research note on Wednesday, July 24th. Finally, Raymond James raised their target price on Element Fleet Management from C$29.00 to C$30.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$31.25.

Element Fleet Management Price Performance

The company has a market capitalization of C$11.47 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.97 and a beta of 0.91. The company’s 50-day simple moving average is C$26.90 and its 200 day simple moving average is C$24.45. The company has a quick ratio of 5.70, a current ratio of 8.22 and a debt-to-equity ratio of 303.14.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.37 by C$0.03. The company had revenue of C$375.68 million during the quarter, compared to analysts’ expectations of C$368.46 million. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. As a group, sell-side analysts expect that Element Fleet Management Corp. will post 1.6868327 earnings per share for the current fiscal year.

Element Fleet Management Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.48 annualized dividend and a yield of 1.69%. Element Fleet Management’s dividend payout ratio (DPR) is presently 37.80%.

Insider Transactions at Element Fleet Management

In other news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average cost of C$27.67 per share, for a total transaction of C$498,074.40. 0.23% of the stock is owned by corporate insiders.

Element Fleet Management Company Profile

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.