Brokers Issue Forecasts for Element Fleet Management Corp’s FY2019 Earnings (TSE:EFN)

Element Fleet Management Corp (TSE:EFN) – Raymond James lowered their FY2019 earnings per share estimates for Element Fleet Management in a research note issued on Thursday, October 17th. Raymond James analyst B. Phelan now expects that the financial services provider will post earnings per share of $0.86 for the year, down from their prior estimate of $0.87. Raymond James has a “Strong-Buy” rating and a $13.50 price target on the stock. Raymond James also issued estimates for Element Fleet Management’s Q1 2020 earnings at $0.23 EPS, Q3 2020 earnings at $0.27 EPS, Q4 2020 earnings at $0.28 EPS, FY2020 earnings at $1.04 EPS, Q2 2021 earnings at $0.28 EPS and FY2021 earnings at $1.12 EPS.

Element Fleet Management (TSE:EFN) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported C$0.21 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of C$0.21. The firm had revenue of C$249.57 million during the quarter, compared to analyst estimates of C$237.00 million.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada boosted their price target on shares of Element Fleet Management from C$12.00 to C$13.00 and gave the stock a “top pick” rating in a research report on Thursday, August 1st. TD Securities boosted their price target on shares of Element Fleet Management from C$11.00 to C$12.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. Element Fleet Management presently has an average rating of “Buy” and an average target price of C$12.07.

Shares of TSE EFN opened at C$11.07 on Monday. The company has a market capitalization of $4.79 billion and a P/E ratio of -23.16. Element Fleet Management has a 52-week low of C$6.03 and a 52-week high of C$11.18. The company has a debt-to-equity ratio of 331.15, a quick ratio of 9.25 and a current ratio of 9.60. The company’s 50 day moving average price is C$10.67 and its 200-day moving average price is C$9.89.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were given a dividend of $0.045 per share. The ex-dividend date was Friday, September 27th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.63%. Element Fleet Management’s payout ratio is presently -43.93%.

About Element Fleet Management

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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Earnings History and Estimates for Element Fleet Management (TSE:EFN)

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