Scotiabank Issues Pessimistic Forecast for Element Fleet Management (TSE:EFN) Stock Price

Element Fleet Management (TSE:EFN) had its price objective decreased by Scotiabank from C$33.00 to C$32.00 in a report released on Thursday,BayStreet.CA reports.

Several other research firms have also recently commented on EFN. National Bankshares boosted their target price on Element Fleet Management from C$34.00 to C$37.00 in a research note on Friday, September 27th. Jefferies Financial Group boosted their price objective 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. TD Securities raised their target price on shares of Element Fleet Management from C$32.00 to C$33.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank of Canada boosted their price target on shares of Element Fleet Management from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Raymond James upped their price objective on Element Fleet Management from C$29.00 to C$30.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Element Fleet Management currently has an average rating of “Moderate Buy” and an average target price of C$33.50.

Element Fleet Management Price Performance

EFN stock opened at C$27.11 on Thursday. The stock has a market cap of C$10.94 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The stock has a 50-day moving average price of C$28.66 and a two-hundred day moving average price of C$26.33. Element Fleet Management has a 1 year low of C$20.62 and a 1 year high of C$30.04. The company has a current ratio of 8.22, a quick ratio of 5.70 and a debt-to-equity ratio of 303.14.

Element Fleet Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Friday, September 27th. Element Fleet Management’s dividend payout ratio is presently 37.50%.

Insider Activity

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