Element Fleet Management
EFN-T
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Unknown in Canada so it's subject to volatility. It's the North American and Australian leader in fleet management. Generates a lot of free cash flow. Trades at a discount to book value at 8x next year's earnings. (4.3% dividend, Analysts' price target: $7.55)
Unknown in Canada so it's subject to volatility. It's the North American and Australian leader in fleet management. Generates a lot of free cash flow. Trades at a discount to book value at 8x next year's earnings. (4.3% dividend, Analysts' price target: $7.55)
This was rumoured to be up for sale but the value-maximization process failed and many US catalyst-investors dumped their shares, creating a compelling valuation. It trades at 0.7x book, which is well below its historical average and below the industry. They do fleet management, their leasing business is fairly stable and mainly in the U.S. They have good customer diversity and increasing origination. The yield is 5% and well covered. He thinks the worst is behind this stock and it is time to pick it up. (Analysts’ price target is $7.06)
This was rumoured to be up for sale but the value-maximization process failed and many US catalyst-investors dumped their shares, creating a compelling valuation. It trades at 0.7x book, which is well below its historical average and below the industry. They do fleet management, their leasing business is fairly stable and mainly in the U.S. They have good customer diversity and increasing origination. The yield is 5% and well covered. He thinks the worst is behind this stock and it is time to pick it up. (Analysts’ price target is $7.06)
(A Top Pick Sept 27/17, down 27%). Company generates a lot of free cash flow. All through their downturn, still generated free cash flow. Market leader in fleet management, have worked through their earlier problems, insider buyer in stock, and pays a nice dividend. Is cheap at this price. Really likes it.
(A Top Pick Sept 27/17, down 27%). Company generates a lot of free cash flow. All through their downturn, still generated free cash flow. Market leader in fleet management, have worked through their earlier problems, insider buyer in stock, and pays a nice dividend. Is cheap at this price. Really likes it.
He used to own it. They had an opportunity to grow their leasing platform in the U.S., but in mid-2016 their strategy stalled. They tried to sell data analytics to their clients without success. That's when he exited. Also, management has turned over recently and the company is now heavily leveraged. Stock is cheap, so now may be an opportunity. The risk has likely passed.
He used to own it. They had an opportunity to grow their leasing platform in the U.S., but in mid-2016 their strategy stalled. They tried to sell data analytics to their clients without success. That's when he exited. Also, management has turned over recently and the company is now heavily leveraged. Stock is cheap, so now may be an opportunity. The risk has likely passed.
The split created liquidity. It is low now. In his experience stock don’t do well after splits. Hitting lows on high volume which is not positive.
The split created liquidity. It is low now. In his experience stock don’t do well after splits. Hitting lows on high volume which is not positive.
Lost half its value this year. Doesn't look good, fundamentally. Buy on a short-term basis. Stock has been consolidating. Set a $3.80 stop. Could reach $5 short-term. Volume is okay.
Lost half its value this year. Doesn't look good, fundamentally. Buy on a short-term basis. Stock has been consolidating. Set a $3.80 stop. Could reach $5 short-term. Volume is okay.
Like Bombardier, management and the board are poor. They've destroyed large amounts of value. Yield is over 7% and questionable if it can last while their capital ratios are impaired. Banks and funding partners may not lend them money.
Like Bombardier, management and the board are poor. They've destroyed large amounts of value. Yield is over 7% and questionable if it can last while their capital ratios are impaired. Banks and funding partners may not lend them money.
The high yield suggests the dividend might be at risk, however, it has a modest 15% payout ratio. The biggest challenge is that earnings were down 21% and now analysts are revising their earnings down 18%. The stock appears cheap at a 6 times earnings price. At the moment, because of the high-yield he thinks there is more risk than he is comfortable with. Yield 7.4%.
The high yield suggests the dividend might be at risk, however, it has a modest 15% payout ratio. The biggest challenge is that earnings were down 21% and now analysts are revising their earnings down 18%. The stock appears cheap at a 6 times earnings price. At the moment, because of the high-yield he thinks there is more risk than he is comfortable with. Yield 7.4%.
The problem is funding even though they split into different businesses. You have to do more fleets and more originations. If anything goes wrong you have no room for error. There is a management gap when one of them left. There is still financial market and growth plus cyclical risk to hit so it is not attractive.
The problem is funding even though they split into different businesses. You have to do more fleets and more originations. If anything goes wrong you have no room for error. There is a management gap when one of them left. There is still financial market and growth plus cyclical risk to hit so it is not attractive.
Pretty interesting business. They do fleet management. Sticky revenues. Their CEO resigned. They lost a major customer. One that where maybe there is a lot of value. Lots of Free Cash Flow. But would like to see until the dust settles. A very good business that he is not sure it is working.
Pretty interesting business. They do fleet management. Sticky revenues. Their CEO resigned. They lost a major customer. One that where maybe there is a lot of value. Lots of Free Cash Flow. But would like to see until the dust settles. A very good business that he is not sure it is working.
North America's #1 leading fleet vehicle/fleet manager. They run fleets of vehicles for corporations. Trades at a big discount to international comparables. Trading at 9X earnings. There has been recent insider buying. Dividend yield of 3.2%. (Analysts' price target is $11.)
North America's #1 leading fleet vehicle/fleet manager. They run fleets of vehicles for corporations. Trades at a big discount to international comparables. Trading at 9X earnings. There has been recent insider buying. Dividend yield of 3.2%. (Analysts' price target is $11.)
(A Top Pick Feb 21/17. Down 30%.) On a standalone basis going forward, this is a cheap, cheap company. Trading at 9X earnings. Management has been buying stock, which is a very bullish signal. North America’s #1 leading vehicle fleet manager. They provide service for their customers on running their fleets more efficiently. Pays a 3% dividend yield, which is likely going to be increased every year.
(A Top Pick Feb 21/17. Down 30%.) On a standalone basis going forward, this is a cheap, cheap company. Trading at 9X earnings. Management has been buying stock, which is a very bullish signal. North America’s #1 leading vehicle fleet manager. They provide service for their customers on running their fleets more efficiently. Pays a 3% dividend yield, which is likely going to be increased every year.
North America’s largest vehicle fleet manager with a growing dominant presence. Over time they are going to increase their margins and bring a lot of value to the customers in a market that is growing. Trading at a single digit PE. Dividend yield of 3.2%. (Analysts’ price target is $10.25.)
North America’s largest vehicle fleet manager with a growing dominant presence. Over time they are going to increase their margins and bring a lot of value to the customers in a market that is growing. Trading at a single digit PE. Dividend yield of 3.2%. (Analysts’ price target is $10.25.)
(A Top Pick Sept 6/16.) Split into 2 companies. ECN Capital (ECN-T) was up 21%, while Element Fleet Management (EFN-T) was down 11%. He likes both.
(A Top Pick Sept 6/16.) Split into 2 companies. ECN Capital (ECN-T) was up 21%, while Element Fleet Management (EFN-T) was down 11%. He likes both.
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