Element Fleet Management Corp. (TSE:EFN) Receives C$40.00 Consensus Price Target from Brokerages

Shares of Element Fleet Management Corp. (TSE:EFN) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$40.00.

A number of brokerages have weighed in on EFN. Scotiabank raised their target price on shares of Element Fleet Management from C$33.00 to C$40.00 in a research note on Wednesday, July 23rd. TD Securities raised their target price on shares of Element Fleet Management from C$41.00 to C$42.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. BMO Capital Markets raised their target price on shares of Element Fleet Management from C$35.00 to C$40.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Raymond James Financial raised their price target on shares of Element Fleet Management from C$36.00 to C$40.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Royal Bank Of Canada raised their price target on shares of Element Fleet Management from C$43.00 to C$47.00 and gave the company an “outperform” rating in a research report on Friday, August 8th.

Element Fleet Management Price Performance

Shares of TSE EFN opened at C$36.60 on Thursday. Element Fleet Management has a fifty-two week low of C$25.00 and a fifty-two week high of C$37.69. The company has a 50 day simple moving average of C$35.81 and a two-hundred day simple moving average of C$32.20. The company has a market capitalization of C$14.69 billion, a price-to-earnings ratio of 36.60, a P/E/G ratio of 2.97 and a beta of 0.49. The company has a debt-to-equity ratio of 303.64, a quick ratio of 5.70 and a current ratio of 7.04.

Element Fleet Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 15th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. Element Fleet Management’s dividend payout ratio (DPR) is 36.52%.

About Element Fleet Management

Element Financial separated into two independent public companies in October 2016. The former company now consists of Element Fleet Management, a global fleet management company, and ECN Capital, a commercial finance company. Element Fleet Management provides management services and financing for commercial vehicle and equipment fleets.