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

Element Fleet Management (TSE:EFN) released its quarterly earnings data on Tuesday. The financial services provider reported C$0.50 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$456.57 million during the quarter. Element Fleet Management had a return on equity of 10.87% and a net margin of 12.29%.

Element Fleet Management Stock Performance

EFN opened at C$19.97 on Thursday. The business’s 50 day moving average is C$23.42 and its 200-day moving average is C$28.86. The stock has a market cap of C$7.81 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 2.97 and a beta of 0.60. The company has a current ratio of -1,737.58, a quick ratio of 5.70 and a debt-to-equity ratio of 3.35. Element Fleet Management has a twelve month low of C$19.39 and a twelve month high of C$38.00.

Insider Activity at Element Fleet Management

In other Element Fleet Management news, insider Jose Manuel Tamayo acquired 2,343 shares of Element Fleet Management stock in a transaction dated Wednesday, September 16th. The stock was acquired at an average cost of C$24.75 per share, for a total transaction of C$57,989.25. Following the completion of the transaction, the insider owned 3,844 shares in the company, valued at approximately C$95,139. This represents a 156.10% increase in their position. Also, insider Jacob Eisenberg sold 90,855 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of C$26.26, for a total value of C$2,385,852.30. Following the completion of the transaction, the insider directly owned 64,897 shares of the company’s stock, valued at C$1,704,195.22. This trade represents a 58.33% decrease in their ownership of the stock. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EFN. Scotia dropped their target price on Element Fleet Management from C$41.00 to C$32.00 and set a “sector outperform” rating on the stock in a research report on Monday, October 26th. Raymond James Financial cut their target price on Element Fleet Management from C$42.00 to C$32.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 6th. RBC Dominion Securities reduced their price target on shares of Element Fleet Management from C$40.00 to C$33.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. TD downgraded shares of Element Fleet Management from a “buy” rating to a “hold” rating and reduced their price target for the company from C$31.00 to C$22.00 in a report on Wednesday. Finally, National Bank Financial lowered their price target on shares of Element Fleet Management from C$50.00 to C$35.00 and set an “outperform” rating for the company in a research report on Wednesday, October 28th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$33.57.

About Element Fleet Management

Element Fleet Management (TSX: EFN) is the largest publicly traded pure play automotive fleet manager in the world and a global leader in intelligent fleet and mobility solutions. Guided by our Purpose to Move the world through intelligent mobility, we help clients manage the vehicles, data, technology, and decisions that keep their businesses moving. Fleet is our foundation, and intelligent mobility is how we lead. By combining deep fleet expertise with connected technologies, data driven intelligence, and strategic partnerships, Element helps clients lower total cost of ownership, improve uptime and driver experience, and build more resilient operations.