FY2024 EPS Estimates for TSE:EFN Increased by Analyst

Element Fleet Management Corp. (TSE:EFN) – Equities researchers at National Bank Financial increased their FY2024 earnings estimates for shares of Element Fleet Management in a report issued on Tuesday, October 29th. National Bank Financial analyst J. Gloyn now anticipates that the financial services provider will post earnings of $1.55 per share for the year, up from their previous forecast of $1.53. 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 FY2025 earnings at $1.74 EPS.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 EPS 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 the consensus estimate of C$368.46 million. Element Fleet Management had a net margin of 23.41% and a return on equity of 12.58%.

A number of other research firms have also recently commented on EFN. BMO Capital Markets increased their target price on shares of Element Fleet Management from C$28.00 to C$32.00 in a research report on Thursday, August 15th. Jefferies Financial Group increased their price objective on shares of 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. Royal Bank of Canada raised their price target on shares of Element Fleet Management from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. TD Securities increased their price objective on shares of Element Fleet Management from C$30.00 to C$32.00 in a report on Friday, September 20th. Finally, Raymond James raised their price target on shares of Element Fleet Management from C$29.00 to C$30.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$32.25.

Element Fleet Management Price Performance

Shares of EFN opened at C$28.53 on Friday. The company has a 50 day moving average price of C$28.50 and a 200-day moving average price of C$25.81. Element Fleet Management has a fifty-two week low of C$18.92 and a fifty-two week high of C$30.04. The stock has a market capitalization of C$11.51 billion, a PE ratio of 22.29, a PEG ratio of 2.97 and a beta of 0.91. The company has a debt-to-equity ratio of 303.14, a quick ratio of 5.70 and a current ratio of 8.22.

Insider Buying and Selling

In related news, Senior Officer Laura Lee Dottori-Attanasio acquired 18,000 shares of Element Fleet Management stock in a transaction dated Thursday, September 5th. The stock was acquired at an average price of C$27.67 per share, for a total transaction of C$498,074.40. 0.26% of the stock is owned by insiders.

Element Fleet Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.48 dividend on an annualized basis and a yield of 1.68%. Element Fleet Management’s dividend payout ratio is currently 37.50%.

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.