TSE:EFN FY2024 EPS Boosted by National Bank Financial

Element Fleet Management Corp. (TSE:EFN) – Equities researchers at National Bank Financial raised their FY2024 earnings per share (EPS) estimates for Element Fleet Management in a research note issued to investors on Wednesday, November 13th. National Bank Financial analyst J. Gloyn now forecasts that the financial services provider will earn $1.56 per share for the year, up from their previous forecast of $1.55. 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 Q4 2024 earnings at $0.38 EPS, Q1 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.46 EPS and FY2026 earnings at $1.95 EPS.

A number of other research analysts also recently commented on the stock. Jefferies Financial Group increased their target price on shares of Element Fleet Management from C$28.00 to C$31.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Raymond James upped their target price on Element Fleet Management from C$30.00 to C$34.00 in a research report on Thursday. National Bankshares lifted their target price on shares of Element Fleet Management from C$37.00 to C$39.00 in a report on Thursday. BMO Capital Markets increased their target price on shares of Element Fleet Management from C$28.00 to C$32.00 in a research note on Thursday, August 15th. Finally, TD Securities lifted their target price on Element Fleet Management from C$32.00 to C$33.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$33.63.

Element Fleet Management Stock Performance

Shares of Element Fleet Management stock opened at C$27.07 on Friday. The company has a quick ratio of 5.70, a current ratio of 8.22 and a debt-to-equity ratio of 303.14. Element Fleet Management has a 52 week low of C$20.55 and a 52 week high of C$30.04. The firm’s 50 day moving average is C$28.68 and its two-hundred day moving average is C$26.22. The firm has a market capitalization of C$10.93 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.97 and a beta of 0.91.

Element Fleet Management (TSE:EFN) last issued its earnings results on Tuesday, August 13th. The financial services provider reported C$0.40 earnings per share for the quarter, topping the consensus estimate of C$0.37 by C$0.03. The business had revenue of C$375.68 million for the quarter, compared to analyst estimates of C$368.46 million. Element Fleet Management had a return on equity of 12.58% and a net margin of 23.41%.

Insider Activity at Element Fleet Management

In other Element Fleet Management news, Senior Officer Laura Lee Dottori-Attanasio bought 18,000 shares of Element Fleet Management stock in a transaction on Thursday, September 5th. The stock was bought at an average price of C$27.67 per share, with a total value of C$498,074.40. Company insiders own 0.26% of the company’s stock.

Element Fleet Management Announces Dividend

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

Element Fleet Management Company Profile

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.