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

Jefferies Financial Group downgraded shares of Element Fleet Management (TSE:EFN - Free Report) from a buy rating to a hold rating in a research note issued to investors on Friday morning,BayStreet.CA reports. They currently have C$30.00 price target on the financial services provider's stock, down from their prior price target of C$32.00.

A number of other equities research analysts have also issued reports on EFN. Royal Bank of Canada lifted their target price on shares of Element Fleet Management from C$33.00 to C$35.00 and gave the company an "outperform" rating in a research note on Wednesday, August 14th. BMO Capital Markets boosted their target price on Element Fleet Management from C$28.00 to C$32.00 in a research note on Thursday, August 15th. CIBC upped their target price on Element Fleet Management from C$30.00 to C$33.00 in a research report on Thursday, October 31st. TD Securities lifted their price target on Element Fleet Management from C$32.00 to C$33.00 and gave the company a "buy" rating in a report on Thursday. Finally, Scotiabank dropped their price objective on Element Fleet Management from C$33.00 to C$32.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$33.50.

Element Fleet Management Stock Up 0.1 %

Shares of EFN stock traded up C$0.04 on Friday, reaching C$27.11. 1,282,254 shares of the company's stock traded hands, compared to its average volume of 548,147. The business's 50 day moving average price is C$28.66 and its two-hundred day moving average price is C$26.30. The company has a market capitalization of C$10.94 billion, a P/E ratio of 21.18, a price-to-earnings-growth 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. 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 - Get Free Report) last issued 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. 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 return on equity of 12.58% and a net margin of 23.41%. On average, equities analysts forecast that Element Fleet Management will post 1.6884016 earnings per share for the current year.

Element Fleet Management Announces Dividend

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

Insider Buying and Selling

In other Element Fleet Management news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of the stock in a transaction on Thursday, September 5th. The shares were purchased 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 owned by insiders.

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.