Element Fleet Management (TSE:EFN) Reaches New 1-Year High After Dividend Announcement

Element Fleet Management Corp. (TSE:EFN) shares hit a new 52-week high during mid-day trading on Monday after the company announced a dividend. The stock traded as high as C$28.81 and last traded at C$28.76, with a volume of 600328 shares. The stock had previously closed at C$28.49.

The newly announced dividend which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, September 27th. Element Fleet Management’s dividend payout ratio (DPR) is presently 38.10%.

Analysts Set New Price Targets

EFN has been the topic of several research analyst reports. Scotiabank lifted their price objective on Element Fleet Management from C$27.00 to C$28.00 in a report on Wednesday, July 24th. Raymond James upped their price objective on shares of Element Fleet Management from C$29.00 to C$30.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 14th. National Bankshares lifted their price target on Element Fleet Management from C$34.00 to C$37.00 in a report on Friday, September 27th. Royal Bank of Canada lifted their price target on shares of Element Fleet Management from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Finally, Jefferies Financial Group upped their target price on shares of Element Fleet Management from C$28.00 to C$31.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Element Fleet Management presently has a consensus rating of “Moderate Buy” and an average target price of C$31.88.

Element Fleet Management Stock Performance

The stock’s fifty day simple moving average is C$27.19 and its 200-day simple moving average is C$24.70. The company has a current ratio of 8.22, a quick ratio of 5.70 and a debt-to-equity ratio of 303.14. The company has a market capitalization of C$11.52 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings data on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.37 by C$0.03. The business had revenue of C$375.68 million for the quarter, compared to analyst estimates of C$368.46 million. Element Fleet Management had a net margin of 23.41% and a return on equity of 12.58%. Analysts predict that Element Fleet Management Corp. will post 1.6895933 EPS for the current year.

Insider Buying and Selling

In other news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were bought at an average price of C$27.67 per share, with a total value of C$498,074.40. 0.23% of the stock is owned by company insiders.

Element Fleet Management Company Profile

Element Fleet Management Corp. operates as a fleet management company primarily in Canada, Mexico, Australia, and New Zealand. The company offers end-to-end fleet cars, trucks, and material handling support equipment acquisition; and end-to-end electric vehicle fleet including fleet planning, charging infrastructure solutions, acquisition, financing, maintenance, and remarketing.