ECN Capital (TSE:ECN) Shares Up 10.7% – Here’s Why

Shares of ECN Capital Corp. (TSE:ECN) were up 10.7% during mid-day trading on Thursday . The stock traded as high as C$2.28 and last traded at C$2.28. Approximately 528,853 shares were traded during mid-day trading, an increase of 58% from the average daily volume of 334,650 shares. The stock had previously closed at C$2.06.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ECN. CIBC increased their price target on ECN Capital from C$2.00 to C$2.25 in a report on Thursday, August 8th. BMO Capital Markets upped their price objective on shares of ECN Capital from C$2.00 to C$2.35 in a report on Friday, August 9th. Finally, National Bankshares raised their target price on ECN Capital from C$2.25 to C$2.50 in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, ECN Capital currently has an average rating of “Hold” and a consensus price target of C$2.48.

ECN Capital Stock Performance

The stock has a market cap of C$669.07 million, a price-to-earnings ratio of -7.21, a P/E/G ratio of 0.24 and a beta of 1.35. The company’s fifty day simple moving average is C$2.12 and its two-hundred day simple moving average is C$1.93. The company has a debt-to-equity ratio of 383.08, a current ratio of 10.77 and a quick ratio of 3.81.

ECN Capital (TSE:ECN) last posted its earnings results on Wednesday, August 7th. The company reported C$0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of C$0.04. The company had revenue of C$79.37 million for the quarter, compared to analyst estimates of C$75.42 million. ECN Capital had a negative net margin of 55.01% and a negative return on equity of 33.69%. On average, analysts forecast that ECN Capital Corp. will post 0.2446449 earnings per share for the current year.

ECN Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, October 1st were paid a $0.01 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.04 dividend on an annualized basis and a yield of 1.68%. ECN Capital’s dividend payout ratio (DPR) is presently -12.12%.

ECN Capital Company Profile

ECN Capital Corp. originates, manages, and advises on credit assets on behalf of its partners in North America. It operates in two segments, Manufactured Housing Finance; and Recreational Vehicle and Marine Finance. The company offers consumer loans, including manufactured housing, recreational vehicle, and marine loans; and commercial loans, such as inventory finance or floorplan loans.