National Bank Financial Cuts Element Fleet Management Corp (EFN) Price Target to C$10.00

Element Fleet Management Corp (TSE:EFN) had its price target reduced by National Bank Financial from C$11.50 to C$10.00 in a research note released on Thursday, StockTargetPrices.com reports. They currently have a sector perform rating on the financial services provider’s stock. National Bank Financial also issued estimates for Element Fleet Management Corp’s Q2 2018 earnings at $0.24 EPS.

A number of other research analysts have also weighed in on EFN. CIBC cut their price objective on Element Fleet Management Corp from C$15.00 to C$10.00 and set an outperform rating for the company in a research report on Friday, August 11th. Scotiabank cut their price objective on Element Fleet Management Corp from C$13.00 to C$11.00 and set a sector perform rating for the company in a research report on Friday, August 11th. BMO Capital Markets cut their price objective on Element Fleet Management Corp from C$15.00 to C$11.00 in a research report on Friday, August 11th. Credit Suisse Group cut their price objective on Element Fleet Management Corp from C$11.50 to C$10.00 and set a sector perform rating for the company in a research report on Thursday. Finally, CSFB lowered Element Fleet Management Corp from an outperform rating to a neutral rating and cut their price objective for the company from C$13.00 to C$10.50 in a research report on Friday, August 11th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Element Fleet Management Corp currently has an average rating of Hold and an average price target of C$11.20.

Element Fleet Management Corp (EFN) opened at 8.82 on Thursday. The stock has a market capitalization of $3.42 billion and a PE ratio of 13.16. The stock has a 50 day moving average price of $9.13 and a 200 day moving average price of $11.19. Element Fleet Management Corp has a 12 month low of $6.20 and a 12 month high of $16.57.

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The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a $0.075 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.30 annualized dividend and a yield of 3.40%.

In related news, insider James Halliday purchased 13,160 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was bought at an average price of C$9.50 per share, for a total transaction of C$125,020.00. Also, insider Samir Michael Zabaneh purchased 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average price of C$9.10 per share, with a total value of C$109,200.00. In the last quarter, insiders purchased 45,160 shares of company stock valued at $426,020.

Element Fleet Management Corp Company Profile

Element Financial Corporation is an independentfinancial services company that originates, co-invests in and manages asset-based financings with operations in Canada and the United States. The Company operates in four business verticals: Commercial and Vendor Finance, Aviation Finance, Fleet Management and Rail Finance.

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