Cormark Issues Positive Forecast for ECN Capital (TSE:ECN) Stock Price

ECN Capital (TSE:ECN) had its target price boosted by Cormark from C$2.25 to C$3.50 in a research report released on Tuesday, Marketbeat.com reports. They currently have a moderate buy rating on the stock. Cormark also issued estimates for ECN Capital’s FY2024 earnings at $0.15 EPS, FY2025 earnings at $0.25 EPS and FY2026 earnings at $0.36 EPS.

ECN has been the subject of a number of other reports. CIBC lifted their price objective on ECN Capital from C$2.25 to C$2.50 in a research report on Friday, November 8th. National Bankshares lifted their price target on shares of ECN Capital from C$2.25 to C$2.50 in a research report on Thursday, August 8th. National Bank Financial raised shares of ECN Capital from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, BMO Capital Markets lifted their target price on shares of ECN Capital from C$2.00 to C$2.35 in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$2.52.

ECN Capital Stock Up 3.4 %

TSE ECN opened at C$3.00 on Tuesday. The stock has a market capitalization of C$843.36 million, a P/E ratio of -8.67, a price-to-earnings-growth ratio of 0.24 and a beta of 1.35. ECN Capital has a 52 week low of C$1.60 and a 52 week high of C$3.25. The company has a debt-to-equity ratio of 383.08, a quick ratio of 3.81 and a current ratio of 10.77. The stock has a fifty day moving average of C$2.23 and a 200-day moving average of C$2.00.

ECN Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, December 13th. ECN Capital’s payout ratio is presently -12.12%.

Insiders Place Their Bets

In related news, Director Steven Kenneth Hudson sold 100,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of C$2.92, for a total value of C$292,300.00. Company insiders own 18.31% of the company’s stock.

About ECN Capital

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.