Brokers Offer Predictions for TSE:EFN FY2024 Earnings

Element Fleet Management Corp. (TSE:EFN) – Stock analysts at National Bank Financial cut their FY2024 earnings per share estimates for Element Fleet Management in a research report issued to clients and investors on Sunday, February 2nd. National Bank Financial analyst J. Gloyn now anticipates that the financial services provider will earn $1.48 per share for the year, down from their previous estimate of $1.56. The consensus estimate for Element Fleet Management’s current full-year earnings is $1.69 per share.

EFN has been the topic of several other reports. CIBC boosted their price target on shares of Element Fleet Management from C$33.00 to C$34.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Scotiabank cut their target price on Element Fleet Management from C$33.00 to C$32.00 in a research note on Thursday, November 14th. TD Securities lifted their price target on Element Fleet Management from C$32.00 to C$33.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Raymond James lifted their target price on Element Fleet Management from C$30.00 to C$34.00 in a research note on Thursday, November 14th. Finally, Jefferies Financial Group downgraded shares of Element Fleet Management from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$32.00 to C$30.00 in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$33.63.

Element Fleet Management Price Performance

EFN opened at C$28.18 on Wednesday. Element Fleet Management has a 1 year low of C$21.20 and a 1 year high of C$30.49. The company has a debt-to-equity ratio of 303.14, a current ratio of 8.22 and a quick ratio of 5.70. The company has a market capitalization of C$11.37 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 2.97 and a beta of 0.91. The firm’s fifty day moving average price is C$28.98 and its two-hundred day moving average price is C$28.29.

Insider Buying and Selling at Element Fleet Management

In other news, Senior Officer Carlos David Madrigal Gonzalez sold 5,200 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of C$27.40, for a total transaction of C$142,480.00. Also, Senior Officer James Halliday sold 33,664 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of C$30.00, for a total transaction of C$1,009,920.00. Over the last three months, insiders have acquired 19,625 shares of company stock valued at $562,999 and have sold 38,948 shares valued at $1,154,902. Insiders own 0.26% of the company’s stock.

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.