In a new note to investors yesterday, an analyst has provided a rating update for the Financial sector company, Element Fleet Management (TSX: EFN). Scotiabank’s analyst Phil Hardie reiterates their Hold rating on the shares, with a C$9.50 price target.
According to TipRanks.com, Hardie is ranked #1490 out of 4877 analysts.
Element Fleet Management has an analyst consensus of Moderate Buy, with a price target consensus of C$9.43, which is a 15.7% upside from current levels. In a report issued on October 2, National Bank also maintained a Hold rating on the stock with a C$7 price target.
Based on Element Fleet Management’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$79.1 million. In comparison, last year the company had a net profit of C$67.18 million.
Element Fleet Management Corp. engages in the provision of financial services. It operates through the following segments: Commercial and Vendor Finance, Aviation Finance, Fleet Management and Rail Finance. The Commercial and Vendor Finance segment is its vertical servicing the mid-ticket finance segment of the equipment finance industry.
The company’s shares closed on Friday at C$8.15.