ECN Capital (TSE:ECN) Sets New 1-Year High Following Dividend Announcement

Shares of ECN Capital Corp. (TSE:ECN) hit a new 52-week high on Monday after the company announced a dividend. The company traded as high as C$3.20 and last traded at C$3.20, with a volume of 168818 shares changing hands. The stock had previously closed at C$2.92.

The newly announced dividend which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be issued a $0.01 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a yield of 1.31%. ECN Capital’s payout ratio is -12.12%.

Wall Street Analyst Weigh In

Several brokerages have commented on ECN. Cormark lifted their target price on ECN Capital from C$2.25 to C$3.50 and gave the stock a “moderate buy” rating in a report on Tuesday, November 12th. CIBC raised their price objective on ECN Capital from C$2.25 to C$2.50 in a research report on Friday, November 8th. Finally, National Bank Financial upgraded ECN Capital from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$2.52.

ECN Capital Stock Performance

The company has a current ratio of 10.77, a quick ratio of 3.81 and a debt-to-equity ratio of 383.08. The company has a 50-day moving average price of C$2.56 and a two-hundred day moving average price of C$2.15. The stock has a market capitalization of C$860.23 million, a P/E ratio of -9.27, a price-to-earnings-growth ratio of 0.24 and a beta of 1.35.

Insider Transactions at ECN Capital

In other news, Director Steven Kenneth Hudson sold 20,300 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of C$2.91, for a total transaction of C$59,012.10. Insiders own 18.31% of the company’s stock.

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.