FY2024 EPS Estimates for TSE:EFN Increased by Analyst

Element Fleet Management Corp. (TSE:EFN) – Research analysts at National Bank Financial boosted their FY2024 earnings per share estimates for shares of Element Fleet Management in a research note issued to investors on Tuesday, October 29th. National Bank Financial analyst J. Gloyn now anticipates that the financial services provider will earn $1.55 per share for the year, up from their previous estimate of $1.53. The consensus estimate for Element Fleet Management’s current full-year earnings is $1.69 per share. National Bank Financial also issued estimates for Element Fleet Management’s FY2025 earnings at $1.74 EPS.

Other equities analysts also recently issued research reports about the company. BMO Capital Markets raised their target price on Element Fleet Management from C$28.00 to C$32.00 in a research report on Thursday, August 15th. CIBC lifted their price objective on Element Fleet Management from C$30.00 to C$33.00 in a research note on Thursday. Royal Bank of Canada lifted their price objective on Element Fleet Management from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Jefferies Financial Group boosted their target price on Element Fleet Management from C$28.00 to C$31.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, TD Securities upped their price objective on Element Fleet Management from C$30.00 to C$32.00 in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$32.25.

Element Fleet Management Price Performance

Shares of TSE:EFN opened at C$28.53 on Friday. Element Fleet Management has a 1-year low of C$18.92 and a 1-year high of C$30.04. The firm has a market capitalization of C$11.51 billion, a PE ratio of 22.29, a PEG ratio of 2.97 and a beta of 0.91. The business’s 50 day moving average is C$28.50 and its 200-day moving average is C$25.81. 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 (TSE:EFN) last issued its quarterly earnings data on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.37 by C$0.03. The business had revenue of C$375.68 million for the quarter, compared to the consensus estimate of C$368.46 million. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%.

Element Fleet Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, September 27th. This represents a $0.48 dividend on an annualized basis and a yield of 1.68%. Element Fleet Management’s payout ratio is 37.50%.

Insider Buying and Selling at Element Fleet Management

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