Cormark Comments on Element Fleet Management Corp’s Q4 2018 Earnings (EFN)

Element Fleet Management Corp (TSE:EFN) – Research analysts at Cormark lifted their Q4 2018 earnings per share estimates for Element Fleet Management in a research note issued on Wednesday, August 15th. Cormark analyst J. Fenwick now anticipates that the financial services provider will post earnings per share of $0.19 for the quarter, up from their previous estimate of $0.18. Cormark also issued estimates for Element Fleet Management’s Q1 2019 earnings at $0.19 EPS, Q2 2019 earnings at $0.19 EPS, Q3 2019 earnings at $0.20 EPS, Q4 2019 earnings at $0.20 EPS and FY2019 earnings at $0.78 EPS.

Several other research firms also recently commented on EFN. CIBC upped their price objective on Element Fleet Management from C$6.50 to C$7.00 in a research note on Wednesday. National Bank Financial upped their price objective on Element Fleet Management from C$6.00 to C$7.00 and gave the company a “sector perform” rating in a research note on Tuesday. Royal Bank of Canada upped their price objective on Element Fleet Management from C$8.00 to C$9.00 and gave the company an “outperform” rating in a research note on Tuesday. Scotiabank increased their target price on Element Fleet Management from C$6.00 to C$6.50 and gave the stock a “sector perform” rating in a research note on Wednesday, May 16th. Finally, Barclays increased their target price on Element Fleet Management from C$6.00 to C$7.00 in a research note on Wednesday, May 16th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Element Fleet Management currently has a consensus rating of “Hold” and a consensus target price of C$7.59.

EFN opened at C$6.82 on Thursday. Element Fleet Management has a 52 week low of C$3.21 and a 52 week high of C$11.03.

Element Fleet Management (TSE:EFN) last posted its quarterly earnings data on Tuesday, May 15th. The financial services provider reported C$0.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of C$0.17. The company had revenue of C$211.34 million for the quarter, compared to analysts’ expectations of C$228.00 million.

In other Element Fleet Management news, Director Richard Venn bought 188,000 shares of the business’s stock in a transaction dated Wednesday, May 23rd. The stock was acquired at an average cost of C$5.79 per share, with a total value of C$1,088,520.00.

About Element Fleet Management

Element Fleet Management Corp. operates as a fleet management company in Canada, the United States, and internationally. The company offers fleet management services, including acquisition, financing, program management, and remarketing services for cars and light duty vehicles, medium and heavy duty trucks, material handling equipment, automobiles, and specialty vehicles and equipment, as well as corporate, municipal, and industrial fleets.

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Earnings History and Estimates for Element Fleet Management (TSE:EFN)

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