Element Fleet Management Corp. Announces Quarterly Dividend of $0.12 (TSE:EFN)

Element Fleet Management Corp. (TSE:EFN) declared a quarterly dividend on Friday, September 27th, Zacks reports. Shareholders of record on Tuesday, October 15th will be given 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 dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, September 27th.

Element Fleet Management Price Performance

Shares of TSE:EFN opened at C$28.20 on Thursday. The company has a quick ratio of 5.70, a current ratio of 8.22 and a debt-to-equity ratio of 303.14. The stock has a market cap of C$11.38 billion, a PE ratio of 22.38, a PEG ratio of 2.97 and a beta of 0.91. The company’s fifty day moving average is C$27.05 and its 200 day moving average is C$24.57. 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 released its earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.37 by C$0.03. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%. The company had revenue of C$375.68 million during the quarter, compared to analyst estimates of C$368.46 million. Research analysts anticipate that Element Fleet Management will post 1.6895933 earnings per share for the current year.

Insiders Place Their Bets

In other Element Fleet Management news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was purchased at an average cost of C$27.67 per share, for a total transaction of C$498,074.40. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. TD Securities upped their price target on shares of Element Fleet Management from C$30.00 to C$32.00 in a report on Friday, September 20th. BMO Capital Markets upped their price objective on shares of Element Fleet Management from C$28.00 to C$32.00 in a research note on Thursday, August 15th. Jefferies Financial Group raised their target price 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. National Bankshares increased their price objective on Element Fleet Management from C$33.00 to C$34.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, Scotiabank boosted their target price on Element Fleet Management from C$27.00 to C$28.00 in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Element Fleet Management presently has an average rating of “Moderate Buy” and an average target price of C$31.50.

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.