Element Financial (EFN) Downgraded by CIBC

CIBC cut shares of Element Financial (TSE:EFN) from an outperform rating to a neutral rating in a report released on Tuesday morning. The brokerage currently has C$8.50 price target on the financial services provider’s stock, down from their prior price target of C$12.00.

A number of other analysts have also issued reports on the stock. TD Securities reduced their price target on shares of Element Financial from C$11.00 to C$10.50 and set a hold rating for the company in a research report on Thursday, January 18th. National Bank Financial increased their price target on shares of Element Financial from C$10.00 to C$10.50 and gave the stock a sector perform rating in a research report on Tuesday, November 7th. Finally, Royal Bank of Canada reduced their price target on shares of Element Financial from C$12.00 to C$8.00 and set an outperform rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of C$9.45.

Shares of Element Financial (EFN) opened at C$5.45 on Tuesday. The company has a market cap of $2,140.00, a PE ratio of 22.71 and a beta of 0.74. Element Financial has a 52 week low of C$5.25 and a 52 week high of C$14.42.

Element Financial (TSE:EFN) last posted its quarterly earnings results on Wednesday, November 8th. The financial services provider reported C$0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.22 by C($0.01). The firm had revenue of C$236.28 million for the quarter, compared to analyst estimates of C$248.00 million.

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About Element Financial

Element Fleet Management Corp. operates as a fleet management company in North America. 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.

Analyst Recommendations for Element Financial (TSE:EFN)

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