ECN Capital (TSE:ECN) Shares Down 10.5% – Here’s What Happened

ECN Capital Corp. (TSE:ECN) traded down 10.5% during trading on Friday . The company traded as low as C$2.73 and last traded at C$2.99. 137,775 shares traded hands during trading, an increase of 6% from the average session volume of 129,504 shares. The stock had previously closed at C$3.34.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ECN shares. CIBC lifted their price objective on ECN Capital from C$2.50 to C$3.50 and gave the stock a “neutral” rating in a report on Thursday, January 30th. National Bank Financial downgraded shares of ECN Capital from a “strong-buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Finally, Cormark upped their price target on shares of 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. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$2.68.

ECN Capital Price Performance

The business’s 50-day moving average price is C$3.25 and its 200 day moving average price is C$2.67. The company has a market capitalization of C$602.05 million, a P/E ratio of -13.40, a price-to-earnings-growth ratio of 0.24 and a beta of 1.35. The company has a quick ratio of 3.81, a current ratio of 13.28 and a debt-to-equity ratio of 304.13.

ECN Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Friday, December 13th. ECN Capital’s dividend payout ratio is -17.87%.

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.