Element Fleet Management (TSE:EFN) Reaches New 1-Year Low After Analyst Downgrade

Key Points

• Element Fleet Management hit a new 52-week low after Raymond James downgraded the stock from "strong‑buy" to "outperform" and trimmed its price target to C$42.00; shares fell as low as C$29.57 and were last quoted at C$29.65 (down ~5.7%).
• Sell‑side coverage remains largely positive overall—seven analysts rate EFN a Buy with an average price target of C$43.43, though individual targets range from about C$41 to C$50 and opinions have recently diverged.
• Key fundamentals: C$11.6B market cap, recent quarter EPS of C$0.45 on C$430.2M revenue, a 2.1% dividend yield (C$0.60 annualized), healthy current/quick ratios but a very high debt‑to‑equity ratio (363.75).

Element Fleet Management Corp. (TSE:EFN - Get Free Report) hit a new 52-week low during mid-day trading on Thursday after Raymond James Financial downgraded the stock from a strong-buy rating to an outperform rating. Raymond James Financial now has a C$42.00 price target on the stock, down from their previous price target of C$42.50. Element Fleet Management traded as low as C$29.57 and last traded at C$29.65, with a volume of 79368 shares. The stock had previously closed at C$30.97.

EFN has been the topic of several other research reports. National Bank Financial lifted their target price on Element Fleet Management from C$48.00 to C$50.00 and gave the company an "outperform" rating in a research note on Wednesday, February 4th. Royal Bank Of Canada set a C$47.00 target price on Element Fleet Management and gave the company an "outperform" rating in a research note on Monday, January 26th. Jefferies Financial Group raised Element Fleet Management from a "hold" rating to a "buy" rating in a research note on Monday, February 23rd. Finally, TD Securities lowered their price target on Element Fleet Management from C$42.00 to C$41.00 and set a "buy" rating on the stock in a research report on Wednesday, February 25th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$43.43.

Element Fleet Management Trading Down 5.7%

The company has a market capitalization of C$11.60 billion, a price-to-earnings ratio of 42.33, a PEG ratio of 2.97 and a beta of 0.32. The firm has a 50-day moving average price of C$31.69 and a 200-day moving average price of C$34.40. The company has a current ratio of 4.05, a quick ratio of 5.70 and a debt-to-equity ratio of 363.75.

Element Fleet Management (TSE:EFN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The financial services provider reported C$0.45 earnings per share (EPS) for the quarter. The company had revenue of C$430.19 million for the quarter. Element Fleet Management had a return on equity of 10.09% and a net margin of 12.07%. As a group, sell-side analysts predict that Element Fleet Management Corp. will post 1.6884016 EPS for the current year.

Element Fleet Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, March 31st. Element Fleet Management's payout ratio is presently 54.23%.

Element Fleet Management Company Profile

Element Financial separated into two independent public companies in October 2016. The former company now consists of Element Fleet Management, a global fleet management company, and ECN Capital, a commercial finance company. Element Fleet Management provides management services and financing for commercial vehicle and equipment fleets. The company's suite of fleet management services deals with acquisition and financing, to program management and remarketing. ECN Capital operates across North America in three verticals of the equipment finance market: commercial and vendor finance, rail finance, and commercial aviation finance.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.