ECN Capital (TSE:ECN) Downgraded by National Bank Financial

ECN Capital (TSE:ECN) was downgraded by analysts at National Bank Financial from an “outperform market weight” rating to a “sector perform market weight” rating in a research report issued to clients and investors on Tuesday. National Bank Financial also issued estimates for ECN Capital’s Q2 2024 earnings at $0.04 EPS and FY2024 earnings at $0.18 EPS.

ECN has been the topic of several other reports. National Bankshares lowered ECN Capital from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$3.50 to C$2.75 in a research note on Tuesday. Royal Bank of Canada cut their price target on ECN Capital from C$3.50 to C$2.75 and set a “sector perform” rating on the stock in a research note on Tuesday, October 24th. TD Securities cut their price target on ECN Capital from C$3.50 to C$2.75 and set a “hold” rating on the stock in a research note on Wednesday, August 16th. CIBC lifted their price target on ECN Capital from C$2.25 to C$2.60 and gave the company a “neutral” rating in a research note on Tuesday. Finally, BMO Capital Markets lowered their price objective on 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. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, ECN Capital currently has a consensus rating of “Hold” and an average target price of C$2.78.

ECN Capital Stock Performance

TSE:ECN opened at C$2.07 on Tuesday. The stock’s 50-day simple moving average is C$2.26 and its 200 day simple moving average is C$2.62. The firm has a market capitalization of C$578.21 million, a PE ratio of -7.14, a price-to-earnings-growth ratio of 0.24 and a beta of 1.15. The company has a quick ratio of 3.81, a current ratio of 9.65 and a debt-to-equity ratio of 709.37. ECN Capital has a twelve month low of C$1.65 and a twelve month high of C$3.66.

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

Insider Buying and Selling at ECN Capital

In other ECN Capital news, Director Steven Kenneth Hudson purchased 250,000 shares of the company’s stock in a transaction on Friday, September 22nd. The shares were purchased at an average cost of C$2.44 per share, with a total value of C$610,000.00. Insiders own 7.94% of the company’s stock.

About ECN Capital

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.