Element Fleet Management

EFN-T

Analysis and Opinions about EFN-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
April 2, 2018

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.

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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.

DON'T BUY
DON'T BUY
March 21, 2018

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%.

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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%.

DON'T BUY
DON'T BUY
February 15, 2018

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.

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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.

WATCH
WATCH
February 6, 2018

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.

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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.

TOP PICK
TOP PICK
January 16, 2018

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.)

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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.)

PAST TOP PICK
PAST TOP PICK
November 16, 2017

(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.

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(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.

TOP PICK
TOP PICK
September 27, 2017

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.)

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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.)

PAST TOP PICK
PAST TOP PICK
August 1, 2017

(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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(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.

DON'T BUY
DON'T BUY
July 13, 2017

It has been a difficult one. It split from its ECN and is now trading as two separate elements. There was suspicions that a short seller would go after them. People are concerned about the direction of the company. It will be reasonably sensitive to US economic conditions.

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It has been a difficult one. It split from its ECN and is now trading as two separate elements. There was suspicions that a short seller would go after them. People are concerned about the direction of the company. It will be reasonably sensitive to US economic conditions.

PAST TOP PICK
PAST TOP PICK
July 4, 2017

(A Top Pick June 15/16. Down 21.49%.) This was split in two. The ECN piece, if you held it which he has, has gone from $3 to $4. If you had those pieces back, it would still be down, but only half of what is shown.

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(A Top Pick June 15/16. Down 21.49%.) This was split in two. The ECN piece, if you held it which he has, has gone from $3 to $4. If you had those pieces back, it would still be down, but only half of what is shown.

DON'T BUY
DON'T BUY
June 2, 2017

He doesn’t play with financials that don’t have access to the Bank of Canada. When their funding dries up or comes into question, there is nowhere for the stock to go except down. He is suspect of this whole thing. He has had 2 Sell signals since February. If there was any kind of a rally, he would Sell your holdings.

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He doesn’t play with financials that don’t have access to the Bank of Canada. When their funding dries up or comes into question, there is nowhere for the stock to go except down. He is suspect of this whole thing. He has had 2 Sell signals since February. If there was any kind of a rally, he would Sell your holdings.

COMMENT
COMMENT
May 31, 2017

There was a rumour that Muddy Waters was going to come out with a scathing Short recommendation on this, dropping the stock by 39%. That was incorrect. The company owns fleets of railcars, commercial jets and industrial equipment.

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There was a rumour that Muddy Waters was going to come out with a scathing Short recommendation on this, dropping the stock by 39%. That was incorrect. The company owns fleets of railcars, commercial jets and industrial equipment.

COMMENT
COMMENT
May 24, 2017

When the original company split, he was more constructive on this side of the 2. A good business. Incremental revenues on solid, long term contracts. They lost a bit of credibility with the street and need to make it back. If they generate good cash flow, you could see a dividend rise. He is just going to wait and see.

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When the original company split, he was more constructive on this side of the 2. A good business. Incremental revenues on solid, long term contracts. They lost a bit of credibility with the street and need to make it back. If they generate good cash flow, you could see a dividend rise. He is just going to wait and see.

PAST TOP PICK
PAST TOP PICK
May 15, 2017

(A Top Pick March 15/16. Down 3%.) This was split into 2 companies, with ECN Capital being the other side. ECN is up 16%. These are growth stories that are still proving themselves out. They have another year or 2 or 5 of the growth.

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(A Top Pick March 15/16. Down 3%.) This was split into 2 companies, with ECN Capital being the other side. ECN is up 16%. These are growth stories that are still proving themselves out. They have another year or 2 or 5 of the growth.

PAST TOP PICK
PAST TOP PICK
February 24, 2017

(A Top Pick May 24/16. Up 14.19%.) The separation into 2 companies has led to value creation. They are seeing a great resurgence in the US economy, which is helping.

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(A Top Pick May 24/16. Up 14.19%.) The separation into 2 companies has led to value creation. They are seeing a great resurgence in the US economy, which is helping.

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