Cormark Has Bullish Estimate for ECN Capital FY2024 Earnings

ECN Capital Corp. (TSE:ECN) – Equities research analysts at Cormark raised their FY2024 earnings per share (EPS) estimates for ECN Capital in a research note issued to investors on Tuesday, November 12th. Cormark analyst J. Fenwick now anticipates that the company will post earnings of $0.15 per share for the year, up from their prior forecast of $0.12. Cormark has a “Moderate Buy” rating and a $3.50 price target on the stock. The consensus estimate for ECN Capital’s current full-year earnings is $0.24 per share. Cormark also issued estimates for ECN Capital’s FY2026 earnings at $0.36 EPS.

ECN has been the topic of several other reports. CIBC boosted their price target on shares of ECN Capital from C$2.25 to C$2.50 in a report on Friday, November 8th. National Bank Financial raised ECN Capital from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. BMO Capital Markets boosted their price target on ECN Capital from C$2.00 to C$2.35 in a research note on Friday, August 9th. Finally, National Bankshares lifted their target price on shares of ECN Capital from C$2.25 to C$2.50 in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ECN Capital presently has an average rating of “Hold” and a consensus target price of C$2.66.

ECN Capital Price Performance

ECN opened at C$2.90 on Thursday. The firm has a market capitalization of C$815.25 million, a P/E ratio of -8.94, a PEG ratio of 0.24 and a beta of 1.35. The stock has a fifty day moving average of C$2.21 and a 200-day moving average of C$1.99. The company has a quick ratio of 3.81, a current ratio of 10.77 and a debt-to-equity ratio of 383.08. ECN Capital has a 12-month low of C$1.60 and a 12-month high of C$3.25.

ECN Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.04 dividend on an annualized basis and a yield of 1.38%. ECN Capital’s payout ratio is currently -12.12%.

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.