Shares of ECN Capital Corp. (TSE:ECN) experienced a modest increase of 0.3% during mid-day trading on Friday, reaching a price of C$3.05. The stock had a trading volume of 154,495 shares, which is significantly lower than the average session volume of 362,814 shares, indicating a decline of 57%. The previous closing price for the stock was C$3.04.
Analysts Set Price Targets for ECN Capital
In a recent report dated October 1, 2023, the Royal Bank of Canada set a new price target of C$3.25 for ECN Capital, while maintaining a “hold” rating. This assessment aligns with the views of four other analysts, who also recommend a hold rating for the stock. According to data from MarketBeat.com, the average price target for ECN Capital is currently C$3.33, suggesting potential for growth.
The company’s most recent quarterly earnings were announced on November 13, 2023, where they reported earnings per share (EPS) of C$0.06. The total revenue for the quarter amounted to C$104.04 million. Despite these figures, ECN Capital reported a negative return on equity of 21.93% and a net margin of 24.40%. Analysts expect that the company will achieve approximately C$0.24 in EPS for the current fiscal year.
Dividend Announcement and Company Overview
ECN Capital has also declared a quarterly dividend, with payments made on December 31, 2023. Shareholders on record as of that date received a dividend of $0.01, which translates to an annualized dividend of $0.04 and a yield of 1.3%. The ex-dividend date was December 12, 2023, and the company’s payout ratio stands at 60.33%.
Founded as a financial services provider, ECN Capital offers a variety of financial products and advisory services aimed at financial institutions. Its operational segments include Service Finance, which focuses on home improvement loans, and Triad Financial Services, which specializes in manufactured home loans. The majority of the company’s revenue is derived from the Service Finance division, underscoring its strategic focus within the market.
As ECN Capital navigates its financial landscape, investors and analysts alike will be watching closely to see how these developments impact future performance.
