ECN Capital (TSE:ECN) Reaches New 52-Week High – Still a Buy?

ECN Capital Corp. (TSE:ECN) shares hit a new 52-week high on Wednesday . The stock traded as high as C$21.25 and last traded at C$2.84, with a volume of 81110 shares trading hands. The stock had previously closed at C$2.90.

Wall Street Analysts Forecast Growth

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

ECN Capital Price Performance

The firm has a market capitalization of C$801.19 million, a price-to-earnings ratio of -8.64, a P/E/G ratio of 0.24 and a beta of 1.35. The firm has a fifty day moving average price of C$2.30 and a 200 day moving average price of C$2.03. The company has a current ratio of 10.77, a quick ratio of 3.81 and a debt-to-equity ratio of 383.08.

ECN Capital Dividend Announcement

The company 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 $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 1.40%. ECN Capital’s payout ratio is -12.12%.

Insider Buying and Selling at ECN Capital

In related news, Director Steven Kenneth Hudson sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of C$2.92, for a total transaction of C$292,300.00. Corporate 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.