Analysts Issue Forecasts for ECN Capital Corp.’s FY2023 Earnings (TSE:ECN)

ECN Capital Corp. (TSE:ECN) – Analysts at Raymond James dropped their FY2023 earnings estimates for ECN Capital in a research report issued on Tuesday, November 14th. Raymond James analyst S. Boland now anticipates that the company will post earnings per share of ($0.09) for the year, down from their previous estimate of ($0.05). The consensus estimate for ECN Capital’s current full-year earnings is $0.29 per share.

ECN Capital (TSE:ECN) last posted its quarterly 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 business had revenue of C$50.95 million during the quarter, compared to analysts’ expectations of C$88.44 million.

Several other equities research analysts have also recently issued reports on the stock. CIBC raised their price objective on shares of ECN Capital from C$2.25 to C$2.60 and gave the stock a “neutral” rating in a research report on Tuesday. TD Securities cut their price objective on shares of ECN Capital from C$2.75 to C$2.50 and set a “hold” rating for the company in a research report on Wednesday. National Bank Financial cut shares of ECN Capital from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Tuesday. National Bankshares cut shares of ECN Capital from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$3.50 to C$2.75 in a research report on Tuesday. Finally, BMO Capital Markets cut their price objective on shares of ECN Capital from C$2.75 to C$2.60 and set a “market perform” rating for the company in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$2.78.

ECN Capital Price Performance

ECN Capital stock opened at C$2.09 on Friday. ECN Capital has a 12-month low of C$1.65 and a 12-month high of C$3.66. The stock has a market cap of C$583.80 million, a P/E ratio of -7.21, a PEG ratio of 0.24 and a beta of 1.15. The company has a 50-day moving average price of C$2.25 and a 200 day moving average price of C$2.62. The company has a current ratio of 9.65, a quick ratio of 3.81 and a debt-to-equity ratio of 709.37.

Insider Activity at ECN Capital

In other ECN Capital news, Director Steven Kenneth Hudson acquired 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average price of C$2.09 per share, for a total transaction of C$522,750.00. Company insiders own 7.94% of the company’s stock.

ECN Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th 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 1.91%. The ex-dividend date of this dividend is Thursday, December 14th. ECN Capital’s dividend payout ratio is presently -13.79%.

ECN Capital Company Profile

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.