Element Fleet Management Corp Declares Quarterly Dividend of $0.08 (EFN)

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Element Fleet Management Corp (TSE:EFN) announced a quarterly dividend on Thursday, September 27th, TickerTech reports. Shareholders of record on Monday, October 15th will be given a dividend of 0.075 per share by the financial services provider on Monday, October 15th. This represents a $0.30 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Thursday, September 27th.

TSE:EFN traded down C$0.11 during trading hours on Friday, hitting C$7.04. 610,951 shares of the stock were exchanged, compared to its average volume of 2,434,333. 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 Monday, August 13th. The financial services provider reported C$0.19 EPS for the quarter, topping the Thomson Reuters’ 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 equities research analysts have commented on the company. CIBC boosted their price objective on Element Fleet Management from C$6.50 to C$7.00 in a research note on Wednesday, August 15th. Cormark boosted their price objective on Element Fleet Management from C$6.50 to C$7.00 in a research note on Wednesday, August 15th. National Bank Financial boosted their price objective on Element Fleet Management from C$6.00 to C$7.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 14th. Finally, Royal Bank of Canada upped their price target on Element Fleet Management from C$8.00 to C$9.00 and gave the company an “outperform” rating in a research report on Tuesday, August 14th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Element Fleet Management currently has an average rating of “Buy” and a consensus target price of C$7.65.

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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