FY2024 EPS Estimates for ECN Capital Lowered by Analyst

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

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

ECN Capital Price Performance

ECN opened at C$3.06 on Wednesday. The stock has a market cap of C$860.23 million, a P/E ratio of -9.27, a P/E/G ratio of 0.24 and a beta of 1.35. ECN Capital has a 12 month low of C$1.60 and a 12 month high of C$3.25. The company has a quick ratio of 3.81, a current ratio of 10.77 and a debt-to-equity ratio of 383.08. The company has a fifty day simple moving average of C$2.56 and a 200 day simple moving average of C$2.15.

ECN Capital Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Steven Kenneth Hudson sold 20,300 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of C$2.91, for a total transaction of C$59,012.10. Insiders own 18.31% of the company’s stock.

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.