ECN Capital (TSE:ECN) Sets New 1-Year High – Here’s Why

ECN Capital Corp. (TSE:ECN)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$21.25 and last traded at C$2.84, with a volume of 81110 shares trading hands. The stock had previously closed at C$2.90.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ECN. National Bank Financial upgraded ECN Capital from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Cormark upped their price objective on shares of ECN Capital from C$2.25 to C$3.50 and gave the company a “moderate buy” rating in a report on Tuesday, November 12th. National Bankshares increased their price objective on shares of ECN Capital from C$2.25 to C$2.50 in a research report on Thursday, August 8th. 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. Finally, CIBC increased their price target on shares of ECN Capital from C$2.25 to C$2.50 in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$2.52.

ECN Capital Price Performance

The firm has a market capitalization of C$801.19 million, a price-to-earnings ratio of -8.64, a P/E/G ratio of 0.24 and a beta of 1.35. The company’s 50 day moving average is C$2.30 and its 200 day moving average is C$2.03. The company has a quick ratio of 3.81, a current ratio of 10.77 and a debt-to-equity ratio of 383.08.

ECN Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 annualized dividend and a dividend yield of 1.40%. ECN Capital’s dividend payout ratio is presently -12.12%.

Insider Activity at ECN Capital

In other ECN Capital news, Director Steven Kenneth Hudson sold 20,300 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of C$2.91, for a total value of C$59,012.10. 18.31% of the stock is currently owned by corporate insiders.

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.