Royal Bank Of Canada Lowers Element Fleet Management (TSE:EFN) Price Target to C$40.00

Key Points

• Royal Bank of Canada cut its target on Element Fleet Management to C$40.00 from C$47.00 but kept an "outperform" rating, implying roughly a 42.8% upside from the current share price (C$28.01).
• Analysts remain broadly positive with a consensus "Buy" rating and an average target of C$41.88, though individual targets vary materially (e.g., National Bank C$50, TD C$38, Raymond James C$42).
• EFN shares traded down to C$28.01 on heavy volume; the company shows high leverage (debt-to-equity 363.75), a P/E of ~40.6, and reported quarterly EPS of C$0.49 on C$879.6M revenue.

Element Fleet Management (TSE:EFN - Get Free Report) had its target price decreased by investment analysts at Royal Bank Of Canada from C$47.00 to C$40.00 in a report released on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the financial services provider's stock. Royal Bank Of Canada's price target indicates a potential upside of 42.81% from the stock's current price.

EFN has been the subject of a number of other research reports. TD cut their target price on shares of Element Fleet Management from C$41.00 to C$38.00 and set a "buy" rating for the company in a research report on Friday. National Bank Financial increased their target price on shares of Element Fleet Management from C$48.00 to C$50.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 4th. Raymond James Financial lowered shares of Element Fleet Management from a "strong-buy" rating to an "outperform" rating and cut their target price for the stock from C$42.50 to C$42.00 in a research report on Thursday. TD Securities cut their price target on Element Fleet Management from C$42.00 to C$41.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Finally, Jefferies Financial Group raised Element Fleet Management from a "hold" rating to a "buy" rating in a report on Monday, February 23rd. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of C$41.88.

Element Fleet Management Stock Performance

Shares of EFN stock traded down C$0.89 during trading on Friday, hitting C$28.01. The company's stock had a trading volume of 1,435,111 shares, compared to its average volume of 872,746. The company has a market cap of C$11.12 billion, a PE ratio of 40.59, a P/E/G ratio of 2.97 and a beta of 0.32. The company has a current ratio of 4.05, a quick ratio of 5.70 and a debt-to-equity ratio of 363.75. The business has a fifty day moving average of C$31.58 and a 200-day moving average of C$34.34. Element Fleet Management has a 52 week low of C$27.83 and a 52 week high of C$38.26.

Element Fleet Management (TSE:EFN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$0.49 earnings per share for the quarter. The company had revenue of C$879.58 million during the quarter. Element Fleet Management had a net margin of 12.07% and a return on equity of 10.09%. As a group, research analysts anticipate that Element Fleet Management will post 1.6884016 earnings per share for the current year.

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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