Element Fleet Management (EFN) Price Target Increased to C$10.00 by Analysts at Barclays

Element Fleet Management (TSE:EFN) had its price target increased by Barclays from C$9.00 to C$10.00 in a report published on Wednesday.

A number of other brokerages have also issued reports on EFN. CIBC raised their target price on shares of Element Fleet Management from C$6.50 to C$7.00 in a research report on Wednesday, August 15th. National Bank Financial restated a sector perform rating and set a C$7.00 target price on shares of Element Fleet Management in a research report on Tuesday, October 2nd. Cormark raised their target price on shares of Element Fleet Management from C$6.50 to C$7.00 in a research report on Wednesday, August 15th. Royal Bank of Canada raised their target price on shares of Element Fleet Management from C$9.00 to C$10.00 and gave the stock an outperform rating in a research report on Sunday, October 14th. Finally, Raymond James upgraded shares of Element Fleet Management from an outperform rating to a strong-buy rating and raised their target price for the stock from C$8.50 to C$10.50 in a research report on Sunday, October 14th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of C$8.95.

Shares of Element Fleet Management stock opened at C$7.42 on Wednesday. Element Fleet Management has a 52 week low of C$3.21 and a 52 week high of C$11.03. The company has a current ratio of 22.09, a quick ratio of 21.23 and a debt-to-equity ratio of 358.82.

Element Fleet Management (TSE:EFN) last announced its quarterly earnings results on Monday, August 13th. The financial services provider reported C$0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.17 by C$0.02. The company had revenue of C$219.44 million during the quarter, compared to analysts’ expectations of C$216.00 million. Research analysts predict that Element Fleet Management will post 0.82000003390181 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 15th were given a dividend of $0.075 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.04%. Element Fleet Management’s dividend payout ratio (DPR) is presently 94.04%.

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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