Element Fleet Management (TSE:EFN) Downgraded by Jefferies Financial Group to “Hold”

Jefferies Financial Group downgraded shares of Element Fleet Management (TSE:EFN) from a buy rating to a hold rating in a report released on Friday,BayStreet.CA reports. Jefferies Financial Group currently has C$30.00 target price on the financial services provider’s stock, down from their previous target price of C$32.00.

A number of other research firms also recently commented on EFN. Scotiabank reduced their target price on Element Fleet Management from C$33.00 to C$32.00 in a research report on Thursday. CIBC lifted their price target on shares of Element Fleet Management from C$30.00 to C$33.00 in a research report on Thursday, October 31st. TD Securities upped their price objective on shares of Element Fleet Management from C$32.00 to C$33.00 and gave the stock a “buy” rating in a report on Thursday. Raymond James boosted their target price on Element Fleet Management from C$30.00 to C$34.00 in a research report on Thursday. Finally, National Bankshares raised their price target on Element Fleet Management from C$37.00 to C$39.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$33.50.

Element Fleet Management Trading Up 0.1 %

Shares of TSE EFN traded up C$0.04 during trading on Friday, hitting C$27.11. 1,282,254 shares of the company were exchanged, compared to its average volume of 548,147. The company has a fifty day moving average price of C$28.66 and a 200-day moving average price of C$26.26. The company has a debt-to-equity ratio of 303.14, a quick ratio of 5.70 and a current ratio of 8.22. The firm has a market capitalization of C$10.94 billion, a PE ratio of 21.18, a P/E/G ratio of 2.97 and a beta of 0.91. Element Fleet Management has a 12-month low of C$20.62 and a 12-month high of C$30.04.

Element Fleet Management (TSE:EFN) last posted its earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, beating the consensus estimate of C$0.37 by C$0.03. The company 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%. As a group, equities research analysts expect that Element Fleet Management will post 1.6884016 EPS for the current year.

Element Fleet Management Announces Dividend

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

Insiders Place Their Bets

In related news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of the business’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. 0.26% 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.