Element Fleet Management (TSE:EFN) Share Price Crosses Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• Element Fleet Management shares slipped below their 200-day moving average, trading as low as C$29.66 versus a 200-day average of C$31.38. The stock last traded at C$29.86 on heavy volume of 781,180 shares.
• Analysts remain largely positive despite recent target cuts: Raymond James, RBC, and TD all lowered price targets, but the stock still carries a consensus Buy rating with an average target price of C$41.88.
• The company reported Q1 earnings of C$0.49 per share on revenue of C$879.58 million and recently paid a quarterly dividend of C$0.15 per share, equal to a 2.0% annualized yield.

Shares of Element Fleet Management Corp. (TSE:EFN - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$31.38 and traded as low as C$29.66. Element Fleet Management shares last traded at C$29.86, with a volume of 781,180 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Raymond James Financial cut Element Fleet Management from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the company from C$42.50 to C$42.00 in a research note on Thursday, May 7th. Royal Bank Of Canada lowered their target price on Element Fleet Management from C$47.00 to C$40.00 and set an "outperform" rating on the stock in a research report on Friday, May 8th. Finally, TD cut their target price on Element Fleet Management from C$41.00 to C$38.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Element Fleet Management presently has a consensus rating of "Buy" and a consensus target price of C$41.88.

Element Fleet Management Price Performance

The company has a fifty day moving average of C$28.10 and a 200-day moving average of C$31.38. The firm has a market cap of C$11.82 billion, a P/E ratio of 40.35, a P/E/G ratio of 2.97 and a beta of 0.61. The company has a debt-to-equity ratio of 358.10, a current ratio of -1,554.01 and a quick ratio of 5.70.

Element Fleet Management (TSE:EFN - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 EPS for the quarter. The business had revenue of C$879.58 million during the quarter. Element Fleet Management had a return on equity of 10.62% and a net margin of 12.38%. On average, sell-side analysts anticipate that Element Fleet Management Corp. will post 1.6884016 EPS for the current fiscal year.

Element Fleet Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, June 30th. Element Fleet Management's dividend payout ratio (DPR) is presently 52.84%.

Insider Buying and Selling

In other news, Director George Keith Graham bought 2,000 shares of the company's stock in a transaction on Tuesday, June 16th. The shares were purchased at an average price of C$28.00 per share, with a total value of C$56,000.00. Following the transaction, the director directly owned 27,000 shares in the company, valued at C$756,000. This represents a 8.00% increase in their ownership of the stock. Also, insider James Halliday sold 67,102 shares of Element Fleet Management stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of C$28.07, for a total transaction of C$1,883,553.14. Following the transaction, the insider directly owned 54,301 shares in the company, valued at approximately C$1,524,229.07. This represents a 55.27% decrease in their position. Over the last ninety days, insiders have bought 38,420 shares of company stock worth $1,073,612. 0.26% of the stock is owned by insiders.

About Element Fleet Management

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.

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