Raymond James Has Strong Outlook for TSE:EFN FY2024 Earnings

Element Fleet Management Corp. (TSE:EFN) – Investment analysts at Raymond James increased their FY2024 earnings per share estimates for Element Fleet Management in a report issued on Thursday, November 14th. Raymond James analyst S. Boland now forecasts that the financial services provider will earn $1.60 per share for the year, up from their previous estimate of $1.54. The consensus estimate for Element Fleet Management’s current full-year earnings is $1.69 per share. Raymond James also issued estimates for Element Fleet Management’s Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $0.42 EPS, Q3 2025 earnings at $0.49 EPS, Q4 2025 earnings at $0.50 EPS and FY2025 earnings at $1.79 EPS.

A number of other brokerages have also issued reports on EFN. TD Securities upped their target price on shares of Element Fleet Management from C$32.00 to C$33.00 and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets increased their price objective on Element Fleet Management from C$28.00 to C$32.00 in a research report on Thursday, August 15th. Scotiabank dropped their target price on Element Fleet Management from C$33.00 to C$32.00 in a research report on Thursday. CIBC upped their price target on Element Fleet Management from C$30.00 to C$33.00 in a research note on Thursday, October 31st. Finally, National Bankshares lifted their price objective on Element Fleet Management from C$37.00 to C$39.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$33.50.

Element Fleet Management Stock Up 0.1 %

Shares of TSE EFN opened at C$27.11 on Monday. The company has a quick ratio of 5.70, a current ratio of 8.22 and a debt-to-equity ratio of 303.14. The company has a market cap of C$10.94 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. Element Fleet Management has a 12-month low of C$20.62 and a 12-month high of C$30.04. The firm’s 50-day simple moving average is C$28.66 and its 200 day simple moving average is C$26.33.

Insider Transactions at Element Fleet Management

In other Element Fleet Management news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was acquired at an average cost of C$27.67 per share, with a total value of C$498,074.40. Insiders own 0.26% of the company’s stock.

Element Fleet Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were issued a $0.12 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.48 annualized dividend and a yield of 1.77%. Element Fleet Management’s dividend payout ratio (DPR) is presently 37.50%.

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.