National Bank Financial Cuts Element Fleet Management (TSE:EFN) Price Target to C$13.00

Element Fleet Management (TSE:EFN) had its target price lowered by National Bank Financial from C$15.00 to C$13.00 in a research report report published on Tuesday morning, BayStreet.CA reports. National Bank Financial currently has an outperform rating on the financial services provider’s stock.

EFN has been the subject of a number of other research reports. Cormark raised their price objective on shares of Element Fleet Management from C$11.25 to C$12.25 in a research report on Wednesday, February 26th. Royal Bank of Canada raised their price objective on shares of Element Fleet Management from C$16.00 to C$17.00 and gave the company a top pick rating in a research report on Wednesday, February 26th. Scotiabank raised their price objective on shares of Element Fleet Management from C$14.00 to C$14.50 in a research report on Monday, February 24th. TD Securities raised their price objective on shares of Element Fleet Management from C$13.00 to C$15.00 and gave the company a buy rating in a research report on Thursday, February 6th. Finally, BMO Capital Markets raised their price objective on shares of Element Fleet Management from C$13.00 to C$15.00 in a research report on Thursday, February 20th.

Shares of TSE:EFN opened at C$9.19 on Tuesday. The company has a quick ratio of 8.52, a current ratio of 8.82 and a debt-to-equity ratio of 334.18. The firm has a market capitalization of $3.21 billion and a PE ratio of 76.58. Element Fleet Management has a twelve month low of C$6.96 and a twelve month high of C$13.47. The company has a 50-day moving average price of C$11.70 and a two-hundred day moving average price of C$11.40.

Element Fleet Management (TSE:EFN) last issued its earnings results on Tuesday, February 25th. The financial services provider reported C$0.23 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.01). The business had revenue of C$256.51 million for the quarter, compared to analysts’ expectations of C$246.00 million. Analysts anticipate that Element Fleet Management will post 1.16 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th will be given a $0.24 dividend. This is a positive change from Element Fleet Management’s previous quarterly dividend of $0.05. This represents a $0.96 dividend on an annualized basis and a dividend yield of 10.45%. The ex-dividend date is Monday, March 30th. Element Fleet Management’s dividend payout ratio (DPR) is 150.00%.

About Element Fleet Management

Element Fleet Management Corp. operates as a fleet management company in Canada, the United States, and internationally. The company offers fleet management services, including acquisition, financing, program management, and remarketing services for cars and light duty vehicles, medium and heavy duty trucks, material handling equipment, automobiles, and specialty vehicles and equipment, as well as corporate, municipal, and industrial fleets.

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