Brokers Issue Forecasts for TSE:EFN FY2024 Earnings

Element Fleet Management Corp. (TSE:EFN) – Equities researchers at National Bank Financial raised their FY2024 earnings per share (EPS) estimates for Element Fleet Management in a report issued on Wednesday, November 13th. National Bank Financial analyst J. Gloyn now forecasts that the financial services provider will post earnings of $1.56 per share for the year, up from their prior forecast of $1.55. The consensus estimate for Element Fleet Management’s current full-year earnings is $1.69 per share. National Bank Financial also issued estimates for Element Fleet Management’s Q4 2024 earnings at $0.38 EPS, Q1 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.46 EPS and FY2026 earnings at $1.95 EPS.

Element Fleet Management (TSE:EFN) last released its earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.37 by C$0.03. The business had revenue of C$375.68 million during 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%.

Several other brokerages have also recently weighed in on EFN. National Bankshares boosted their target price on Element Fleet Management from C$37.00 to C$39.00 in a report on Thursday. Jefferies Financial Group boosted their price objective on Element Fleet Management from C$28.00 to C$31.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. BMO Capital Markets raised their target price on Element Fleet Management from C$28.00 to C$32.00 in a research note on Thursday, August 15th. TD Securities boosted their price target on shares of Element Fleet Management from C$32.00 to C$33.00 and gave the company a “buy” rating in a research report on Thursday. Finally, CIBC upped their price objective on shares of Element Fleet Management from C$30.00 to C$33.00 in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$33.63.

Element Fleet Management Stock Performance

EFN opened at C$27.07 on Friday. The firm has a market capitalization of C$10.93 billion, a PE ratio of 20.99, a PEG ratio of 2.97 and a beta of 0.91. The company has a current ratio of 8.22, a quick ratio of 5.70 and a debt-to-equity ratio of 303.14. Element Fleet Management has a twelve month low of C$20.55 and a twelve month high of C$30.04. The firm’s 50-day moving average price is C$28.68 and its 200 day moving average price is C$26.22.

Element Fleet Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, September 27th. Element Fleet Management’s dividend payout ratio (DPR) is presently 37.50%.

Insider Buying and Selling at Element Fleet Management

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. Company insiders own 0.26% of the company’s stock.

About Element Fleet Management

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.