Cormark Comments on ECN Capital’s FY2024 Earnings (TSE:ECN)

ECN Capital Corp. (TSE:ECN) – Equities research analysts at Cormark increased their FY2024 earnings per share (EPS) estimates for ECN Capital in a research report issued to clients and investors on Tuesday, November 12th. Cormark analyst J. Fenwick now forecasts that the company will earn $0.15 per share for the year, up from their prior forecast of $0.12. Cormark currently has a “Moderate Buy” rating and a $3.50 target price on the stock. The consensus estimate for ECN Capital’s current full-year earnings is $0.24 per share. Cormark also issued estimates for ECN Capital’s FY2026 earnings at $0.36 EPS.

Several other analysts have also issued reports on ECN. National Bankshares upped their target price on shares of ECN Capital from C$2.25 to C$2.50 in a research report on Thursday, August 8th. BMO Capital Markets boosted their price target on shares of ECN Capital from C$2.00 to C$2.35 in a research note on Friday, August 9th. CIBC increased their price objective on shares of ECN Capital from C$2.25 to C$2.50 in a research report on Friday, November 8th. Finally, National Bank Financial raised ECN Capital from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$2.52.

ECN Capital Stock Up 3.4 %

Shares of TSE ECN opened at C$3.00 on Thursday. ECN Capital has a 1 year low of C$1.60 and a 1 year high of C$3.25. The company has a market capitalization of C$843.36 million, a P/E ratio of -8.67, a P/E/G ratio of 0.24 and a beta of 1.35. The company has a 50 day simple moving average of C$2.23 and a 200-day simple moving average of C$2.00. The company has a debt-to-equity ratio of 383.08, a current ratio of 10.77 and a quick ratio of 3.81.

Insider Buying and Selling at ECN Capital

In other news, Director Steven Kenneth Hudson sold 100,000 shares of ECN Capital stock in a transaction dated Friday, November 15th. The shares were sold at an average price of C$2.92, for a total value of C$292,300.00. 18.31% of the stock is owned by company insiders.

ECN Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, December 13th. ECN Capital’s dividend payout ratio (DPR) is presently -12.12%.

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.