Element Fleet Management (EFN) Raised to “Market Perform” at Cormark

Cormark upgraded shares of Element Fleet Management (TSE:EFN) from a reduce rating to a market perform rating in a research report released on Tuesday. Cormark also issued estimates for Element Fleet Management’s Q4 2018 earnings at $0.17 EPS, Q2 2019 earnings at $0.20 EPS, Q3 2019 earnings at $0.21 EPS, Q4 2019 earnings at $0.21 EPS, FY2019 earnings at $0.81 EPS, Q1 2020 earnings at $0.22 EPS, Q2 2020 earnings at $0.22 EPS, Q3 2020 earnings at $0.23 EPS and FY2020 earnings at $0.90 EPS.

Several other research analysts have also commented on the company. CIBC raised Element Fleet Management from a neutral rating to an outperform rating and raised their price objective for the company from C$7.00 to C$10.00 in a research report on Tuesday, September 11th. BMO Capital Markets raised their price objective on Element Fleet Management from C$8.00 to C$10.00 in a research report on Sunday, October 14th. National Bank Financial reissued a sector perform rating and issued a C$7.00 price objective on shares of Element Fleet Management in a research report on Tuesday, October 2nd. Royal Bank of Canada raised their price objective on Element Fleet Management from C$8.00 to C$9.00 and gave the company an outperform rating in a research report on Tuesday, August 14th. Finally, Raymond James raised Element Fleet Management from an outperform rating to a strong-buy rating and raised their price objective for the company from C$8.50 to C$10.50 in a research report on Sunday, October 14th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of C$8.95.

TSE:EFN opened at C$7.35 on Tuesday. The company has a debt-to-equity ratio of 386.30, a quick ratio of 12.37 and a current ratio of 12.80. Element Fleet Management has a 12 month low of C$3.21 and a 12 month high of C$11.03.



Element Fleet Management (TSE:EFN) last released its quarterly earnings data on Monday, August 13th. The financial services provider reported C$0.19 EPS for the quarter, beating the consensus estimate of C$0.17 by C$0.02. The company had revenue of C$219.44 million during the quarter, compared to analysts’ expectations of C$216.00 million. Research analysts anticipate that Element Fleet Management will post 0.809999950925436 earnings per share for the current fiscal year.

Element Fleet Management Company Profile

Element Fleet Management Corp. operates as a fleet management company in Canada, the United States, and internationally. The company offers fleet management services, including acquisition, financing, program management, and remarketing services for cars and light duty vehicles, medium and heavy duty trucks, material handling equipment, automobiles, and specialty vehicles and equipment, as well as corporate, municipal, and industrial fleets.

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Analyst Recommendations for Element Fleet Management (TSE:EFN)

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