TSE:EFN FY2024 EPS Raised by National Bank Financial

Element Fleet Management Corp. (TSE:EFN) – Equities researchers at National Bank Financial boosted their FY2024 earnings estimates for shares of Element Fleet Management in a research report issued on Wednesday, November 13th. National Bank Financial analyst J. Gloyn now forecasts that the financial services provider will earn $1.56 per share for the year, up from their prior estimate of $1.55. 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 Q4 2024 earnings at $0.38 EPS, Q1 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.46 EPS and FY2026 earnings at $1.95 EPS.

Element Fleet Management (TSE:EFN) last posted its 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 firm had revenue of C$375.68 million for the quarter, compared to analysts’ expectations of C$368.46 million. Element Fleet Management had a net margin of 23.41% and a return on equity of 12.58%.

EFN has been the topic of several other research reports. TD Securities boosted 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 report on Thursday. National Bankshares increased their price target on Element Fleet Management from C$37.00 to C$39.00 in a report on Thursday. Royal Bank of Canada lifted their price objective on shares of Element Fleet Management from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. CIBC raised their price target on shares of Element Fleet Management from C$30.00 to C$33.00 in a report on Thursday, October 31st. Finally, BMO Capital Markets lifted their price target on shares of Element Fleet Management from C$28.00 to C$32.00 in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Element Fleet Management has an average rating of “Moderate Buy” and an average price target of C$33.50.

Element Fleet Management Stock Up 0.1 %

Shares of EFN opened at C$27.11 on Friday. The company has a market capitalization of C$10.94 billion, a PE ratio of 21.18, a PEG ratio of 2.97 and a beta of 0.91. The stock’s 50-day moving average price is C$28.66 and its two-hundred day moving average price is C$26.26. 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 has a 12 month low of C$20.62 and a 12 month high of C$30.04.

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 dated Thursday, September 5th. The shares were purchased at an average cost of C$27.67 per share, with a total value of C$498,074.40. 0.26% of the stock is currently owned by corporate insiders.

Element Fleet Management Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 1.77%. Element Fleet Management’s dividend payout ratio is presently 37.50%.

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.