Element Fleet Management Corp. (TSE:EFN – Get Rating)’s stock price reached a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as C$20.21 and last traded at C$19.57, with a volume of 114685 shares. The stock had previously closed at C$19.41.
The newly announced dividend which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, March 30th. Element Fleet Management’s dividend payout ratio (DPR) is presently 43.96%.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Barclays upped their price objective on shares of Element Fleet Management from C$19.00 to C$21.00 in a report on Thursday, November 10th. Raymond James upgraded shares of Element Fleet Management from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from C$21.00 to C$24.00 in a research note on Wednesday, November 30th. BMO Capital Markets upped their price target on shares of Element Fleet Management from C$21.00 to C$23.00 in a research note on Wednesday, November 30th. CIBC upped their price target on shares of Element Fleet Management from C$20.00 to C$21.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, National Bankshares upped their price target on shares of Element Fleet Management from C$24.00 to C$28.00 and gave the company an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$23.38.
Element Fleet Management Stock Down 2.0 %
Element Fleet Management Company Profile
Element Fleet Management Corp. operates as a fleet management company primarily in Canada, the United States, Mexico, Australia, and New Zealand. The company offers fleet management services comprising vehicle acquisition, financing, program management, and remarketing services to corporate, commercial, government, and public service vehicle fleets.
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