ECN Capital (TSE:ECN) Lowered to “Sector Perform” at National Bankshares

National Bankshares lowered shares of ECN Capital (TSE:ECN) from an outperform rating to a sector perform rating in a report published on Tuesday, BayStreet.CA reports. The firm currently has C$2.75 target price on the stock, down from their previous target price of C$3.50.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada reduced their price target on shares of ECN Capital from C$3.50 to C$2.75 and set a sector perform rating for the company in a research report on Tuesday, October 24th. Raymond James upgraded shares of ECN Capital from a market perform rating to an outperform rating and upped their price objective for the stock from C$3.00 to C$4.00 in a research report on Tuesday, August 15th. BMO Capital Markets cut their price objective on shares of ECN Capital from C$4.00 to C$2.75 and set a market perform rating for the company in a research report on Thursday, October 5th. TD Securities cut their price objective on shares of ECN Capital from C$3.50 to C$2.75 and set a hold rating for the company in a research report on Wednesday, August 16th. Finally, CIBC cut their price objective on shares of ECN Capital from C$2.75 to C$2.25 and set a neutral rating for the company in a research report on Thursday, October 26th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of C$2.91.

ECN Capital Stock Down 9.2 %

ECN stock opened at C$2.28 on Tuesday. The company has a fifty day moving average price of C$2.27 and a 200 day moving average price of C$2.63. ECN Capital has a 12 month low of C$1.65 and a 12 month high of C$3.66. The company has a market cap of C$636.87 million, a price-to-earnings ratio of -7.86, a price-to-earnings-growth ratio of 0.24 and a beta of 1.15. The company has a debt-to-equity ratio of 709.37, a current ratio of 9.65 and a quick ratio of 3.81.

ECN Capital (TSE:ECN) last released its quarterly earnings results on Monday, August 14th. The company reported C$0.01 EPS for the quarter, missing the consensus estimate of C$0.06 by C($0.05). ECN Capital had a negative net margin of 36.95% and a negative return on equity of 24.88%. The business had revenue of C$50.95 million during the quarter, compared to analysts’ expectations of C$88.44 million. Sell-side analysts expect that ECN Capital will post 0.2888889 earnings per share for the current year.

ECN Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, October 2nd were paid a $0.01 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.04 dividend on an annualized basis and a yield of 1.75%. ECN Capital’s payout ratio is -13.79%.

Insiders Place Their Bets

In other news, Director Steven Kenneth Hudson purchased 250,000 shares of the firm’s stock in a transaction on Friday, September 22nd. The shares were bought at an average cost of C$2.44 per share, with a total value of C$610,000.00. 7.94% of the stock is owned by corporate insiders.

ECN Capital Company Profile

ECN Capital Corp. originates, manages, and advises on credit assets on behalf of its partners in North America. It operates through two segments, Manufactured Housing Finance; and Recreational Vehicle and Marine Finance. The company provides consumer loans, including manufactured housing, recreational vehicle, and marine loans; and commercial loans, such as inventory finance or floorplan loans.