ECN Capital (TSE:ECN) Sets New 52-Week High – Here’s What Happened

ECN Capital Corp. (TSE:ECN) reached a new 52-week high on Tuesday . The stock traded as high as C$22.00 and last traded at C$2.89, with a volume of 55550 shares trading hands. The stock had previously closed at C$2.91.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. National Bankshares raised their price target on shares of ECN Capital from C$2.25 to C$2.50 in a report on Thursday, August 8th. Cormark boosted their price target on ECN Capital from C$2.25 to C$3.50 and gave the stock a “moderate buy” rating in a research note on Tuesday, November 12th. BMO Capital Markets raised their price objective on ECN Capital from C$2.00 to C$2.35 in a research note on Friday, August 9th. CIBC upped their target price on ECN Capital from C$2.25 to C$2.50 in a research report on Friday, November 8th. Finally, National Bank Financial raised shares of ECN Capital from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ECN Capital has a consensus rating of “Hold” and a consensus target price of C$2.52.

ECN Capital Trading Down 3.1 %

The company has a debt-to-equity ratio of 383.08, a current ratio of 10.77 and a quick ratio of 3.81. The business’s fifty day simple moving average is C$2.33 and its 200 day simple moving average is C$2.05. The stock has a market cap of C$792.76 million, a price-to-earnings ratio of -8.82, a P/E/G ratio of 0.24 and a beta of 1.35.

ECN Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, December 13th. ECN Capital’s dividend payout ratio is presently -12.12%.

Insiders Place Their Bets

In other news, Director Steven Kenneth Hudson sold 20,300 shares of the company’s 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. 18.31% of the stock is currently owned by corporate insiders.

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.