Element Fleet Management Corp Forecasted to Earn Q3 2019 Earnings of $0.22 Per Share (EFN)

Element Fleet Management Corp (TSE:EFN) – Research analysts at National Bank Financial issued their Q3 2019 earnings per share estimates for shares of Element Fleet Management in a report released on Monday, November 5th. National Bank Financial analyst J. Gloyn anticipates that the financial services provider will post earnings of $0.22 per share for the quarter. National Bank Financial currently has a “Outperform” rating and a $9.50 target price on the stock.

Element Fleet Management (TSE:EFN) last released its quarterly earnings results on Monday, August 13th. The financial services provider reported C$0.19 earnings per share for the quarter, beating the consensus estimate of C$0.17 by C$0.02. The firm had revenue of C$219.44 million for the quarter, compared to analysts’ expectations of C$216.00 million.

Several other equities research analysts have also issued reports on EFN. CIBC raised Element Fleet Management from a “neutral” rating to an “outperform” rating and raised their price objective for the company from C$7.00 to C$10.00 in a research note on Tuesday, September 11th. BMO Capital Markets raised their price objective on Element Fleet Management from C$8.00 to C$10.00 in a research note on Sunday, October 14th. Royal Bank of Canada raised 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, August 14th. Raymond James raised Element Fleet Management from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from C$8.50 to C$10.50 in a research note on Sunday, October 14th. Finally, Cormark raised their price objective on Element Fleet Management from C$6.50 to C$7.00 in a research note on Wednesday, August 15th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of C$8.95.

TSE EFN opened at C$7.74 on Wednesday. Element Fleet Management has a 1-year low of C$3.21 and a 1-year high of C$11.03.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 15th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend was Thursday, September 27th.

Element Fleet Management Company Profile

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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