Element Fleet Management (TSE:EFN) Releases Earnings Results

Element Fleet Management (TSE:EFN) released its quarterly earnings data on Wednesday. The financial services provider reported C$0.48 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$451.94 million for the quarter. Element Fleet Management had a return on equity of 10.62% and a net margin of 12.38%.

Element Fleet Management Stock Down 2.1%

Shares of EFN traded down C$0.68 during mid-day trading on Wednesday, reaching C$31.48. 606,428 shares of the stock traded hands, compared to its average volume of 998,615. The firm has a market cap of C$12.47 billion, a price-to-earnings ratio of 42.54, a P/E/G ratio of 2.97 and a beta of 0.61. The stock has a fifty day simple moving average of C$29.06 and a 200 day simple moving average of C$30.95. Element Fleet Management has a 12-month low of C$25.32 and a 12-month high of C$38.26. The company has a quick ratio of 5.70, a current ratio of -1,554.01 and a debt-to-equity ratio of 358.10.

Element Fleet Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 annualized dividend and a yield of 1.9%. Element Fleet Management’s dividend payout ratio (DPR) is 52.84%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. TD reduced their price target on shares of Element Fleet Management from C$41.00 to C$38.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Royal Bank Of Canada cut their target price on shares of Element Fleet Management from C$47.00 to C$40.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Finally, Raymond James Financial lowered shares of Element Fleet Management from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from C$42.50 to C$42.00 in a report on Thursday, May 7th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$41.88.

Insider Transactions at Element Fleet Management

In other news, Director George Keith Graham bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was acquired at an average cost of C$28.00 per share, for a total transaction of C$56,000.00. Following the completion of the purchase, the director owned 27,000 shares of the company’s stock, valued at C$756,000. This trade represents a 8.00% increase in their ownership of the stock. Also, insider James Halliday sold 67,102 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of C$28.07, for a total transaction of C$1,883,553.14. Following the sale, the insider directly owned 54,301 shares of the company’s stock, valued at approximately C$1,524,229.07. The trade was a 55.27% decrease in their ownership of the stock. Over the last three months, insiders have bought 38,420 shares of company stock valued at $1,073,612. Corporate insiders own 0.26% of the company’s stock.

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.