Element Fleet Management (TSE:EFN) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Element Fleet Management Corp. shares have surpassed their 200-day moving average, trading as high as C$36.88 and currently at C$36.62.
• Multiple analysts have raised their price targets for Element Fleet Management, with Scotiabank setting a new target of C$40.00 and Royal Bank of Canada at C$47.00, contributing to an average rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.13 per share, with an annualized yield of 1.4% and a payout ratio of 36.52%.

Element Fleet Management Corp. (TSE:EFN - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$32.31 and traded as high as C$36.88. Element Fleet Management shares last traded at C$36.62, with a volume of 667,007 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on EFN shares. Scotiabank raised their target price on shares of Element Fleet Management from C$33.00 to C$40.00 in a research note on Wednesday, July 23rd. National Bankshares raised their target price on shares of Element Fleet Management from C$46.00 to C$47.00 in a research note on Thursday, August 7th. Royal Bank Of Canada raised their target price on shares of Element Fleet Management from C$43.00 to C$47.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Raymond James Financial raised their target price on shares of Element Fleet Management from C$36.00 to C$40.00 and gave the stock a "strong-buy" rating in a research note on Thursday, August 7th. Finally, TD Securities upped their price target on Element Fleet Management from C$41.00 to C$42.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$40.00.

Element Fleet Management Stock Up 0.0%

The company has a current ratio of 7.04, a quick ratio of 5.70 and a debt-to-equity ratio of 303.64. The firm has a market capitalization of C$14.80 billion, a P/E ratio of 36.86, a P/E/G ratio of 2.97 and a beta of 0.54. The company has a 50 day simple moving average of C$36.14 and a two-hundred day simple moving average of C$32.49.

Element Fleet Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 15th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, June 30th. Element Fleet Management's dividend payout ratio is presently 36.52%.

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.