Element Fleet Management (TSE:EFN) Posts Quarterly Earnings Results

Element Fleet Management (TSE:EFN) announced its quarterly earnings data on Tuesday. The financial services provider reported C$0.45 earnings per share for the quarter, FiscalAI reports. Element Fleet Management had a net margin of 16.46% and a return on equity of 11.33%. The company had revenue of C$430.19 million during the quarter.

Element Fleet Management Price Performance

Shares of EFN traded up C$0.46 during trading hours on Thursday, reaching C$33.56. 173,461 shares of the stock traded hands, compared to its average volume of 793,627. The company has a market cap of C$13.42 billion, a P/E ratio of 31.36, a price-to-earnings-growth ratio of 2.97 and a beta of 0.31. The company has a current ratio of 7.04, a quick ratio of 5.70 and a debt-to-equity ratio of 303.64. The company’s 50-day moving average price is C$35.06 and its two-hundred day moving average price is C$36.15. Element Fleet Management has a 52-week low of C$25.76 and a 52-week high of C$38.26.

Analyst Ratings Changes

A number of equities analysts have weighed in on EFN shares. TD Securities decreased their target price on Element Fleet Management from C$42.00 to C$41.00 and set a “buy” rating for the company in a research report on Wednesday. National Bank Financial increased their price objective on shares of Element Fleet Management from C$48.00 to C$50.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Jefferies Financial Group raised shares of Element Fleet Management from a “hold” rating to a “buy” rating in a research report on Monday. Royal Bank Of Canada set a C$47.00 price target on Element Fleet Management and gave the company an “outperform” rating in a report on Monday, January 26th. Finally, Raymond James Financial lifted their price objective on Element Fleet Management from C$40.00 to C$41.00 in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Element Fleet Management presently has a consensus rating of “Buy” and an average price target of C$43.29.

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. The company’s suite of fleet management services deals with acquisition and financing, to program management and remarketing. ECN Capital operates across North America in three verticals of the equipment finance market: commercial and vendor finance, rail finance, and commercial aviation finance.