ECN Capital (TSE:ECN) PT Lowered to C$3.50 at Raymond James

ECN Capital (TSE:ECN) had its price objective dropped by research analysts at Raymond James from C$4.00 to C$3.50 in a research note issued to investors on Wednesday, BayStreet.CA reports. Raymond James’ target price points to a potential upside of 67.46% from the stock’s previous close. Raymond James also issued estimates for ECN Capital’s Q4 2023 earnings at $0.00 EPS, Q1 2024 earnings at $0.03 EPS, Q2 2024 earnings at $0.07 EPS, Q3 2024 earnings at $0.08 EPS and FY2024 earnings at $0.23 EPS.

Other analysts also recently issued research reports about the company. CIBC increased their target price on ECN Capital from C$2.25 to C$2.60 and gave the company a “neutral” rating in a research note on Tuesday. National Bankshares cut 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 report on Tuesday. Royal Bank of Canada lowered their price objective on shares of 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. National Bank Financial cut shares of ECN Capital from an “outperform market weight” rating to a “sector perform market weight” rating in a research note on Tuesday. Finally, TD Securities decreased their price target on shares of ECN Capital from C$3.50 to C$2.75 and set a “hold” rating on the stock in a research report on Wednesday, August 16th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$2.78.

ECN Capital Stock Up 1.0 %

ECN Capital stock opened at C$2.09 on Wednesday. The company has a current ratio of 9.65, a quick ratio of 3.81 and a debt-to-equity ratio of 709.37. ECN Capital has a 1-year low of C$1.65 and a 1-year high of C$3.66. The firm’s fifty day simple moving average is C$2.25 and its 200-day simple moving average is C$2.62. The company has a market capitalization of C$583.80 million, a P/E ratio of -7.21, a P/E/G ratio of 0.24 and a beta of 1.15.

ECN Capital (TSE:ECN) last posted its earnings results 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). ECN Capital had a negative return on equity of 24.88% and a negative net margin of 36.95%. The company had revenue of C$50.95 million during the quarter, compared to analyst estimates of C$88.44 million. Sell-side analysts forecast that ECN Capital will post 0.2888889 earnings per share for the current fiscal year.

Insider Activity

In other ECN Capital news, Director Steven Kenneth Hudson acquired 250,000 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The stock was acquired at an average cost of C$2.44 per share, for a total transaction of C$610,000.00. 7.94% of the stock is owned by company insiders.

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.