Element Fleet Management Corp. (TSE:EFN) to Issue $0.12 Quarterly Dividend

Element Fleet Management Corp. (TSE:EFN) announced a quarterly dividend on Friday, September 27th, Zacks reports. Shareholders of record on Tuesday, October 15th will be paid a dividend of 0.12 per share by the financial services provider on Tuesday, October 15th. This represents a $0.48 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Friday, September 27th.

Element Fleet Management Stock Down 0.8 %

TSE EFN traded down C$0.24 during midday trading on Wednesday, hitting C$28.01. 29,033 shares of the company traded hands, compared to its average volume of 545,749. The company has a debt-to-equity ratio of 303.14, a current ratio of 8.22 and a quick ratio of 5.70. The company has a market cap of C$11.31 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The company’s 50-day simple moving average is C$27.01 and its 200-day simple moving average is C$24.52. Element Fleet Management has a 52 week low of C$18.50 and a 52 week high of C$28.89.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on EFN. BMO Capital Markets boosted their price target on Element Fleet Management from C$28.00 to C$32.00 in a research note on Thursday, August 15th. TD Securities upped their price target on Element Fleet Management from C$30.00 to C$32.00 in a report on Friday, September 20th. CIBC upped their price target on Element Fleet Management from C$28.00 to C$30.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Jefferies Financial Group upped their price target on Element Fleet Management from C$28.00 to C$31.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada upped their price target on Element Fleet Management from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$31.50.

Insider Buying and Selling

In other news, Senior Officer Laura Lee Dottori-Attanasio purchased 18,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was acquired at an average cost of C$27.67 per share, for a total transaction of C$498,074.40. 0.23% of the stock is currently 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.