Analysts Offer Predictions for ECN Capital FY2024 Earnings

ECN Capital Corp. (TSE:ECN) – Equities research analysts at National Bank Financial dropped their FY2024 EPS estimates for shares of ECN Capital in a note issued to investors on Sunday, December 15th. National Bank Financial analyst J. Gloyn now forecasts that the company will post earnings of $0.09 per share for the year, down from their previous estimate of $0.13. National Bank Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for ECN Capital’s current full-year earnings is $0.24 per share.

ECN has been the topic of a number of other research reports. CIBC raised their target price on ECN Capital from C$2.25 to C$2.50 in a report on Friday, November 8th. Cormark raised their price objective on ECN Capital from C$2.25 to C$3.50 and gave the company a “moderate buy” rating in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$2.52.

ECN Capital Stock Performance

Shares of TSE:ECN opened at C$3.06 on Wednesday. ECN Capital has a 1 year low of C$1.60 and a 1 year high of C$3.25. The stock has a market capitalization of C$860.23 million, a price-to-earnings ratio of -9.27, a price-to-earnings-growth ratio of 0.24 and a beta of 1.35. The company has a debt-to-equity ratio of 383.08, a current ratio of 10.77 and a quick ratio of 3.81. The company’s 50 day simple moving average is C$2.59 and its 200 day simple moving average is C$2.17.

Insider Activity at ECN Capital

In other ECN Capital news, Director Steven Kenneth Hudson sold 100,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of C$2.92, for a total value of C$292,300.00. 18.31% of the stock is currently owned by company insiders.

ECN Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, December 13th. ECN Capital’s payout ratio is -12.12%.

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.