ECN Capital (TSE:ECN) Hits New 52-Week High After Dividend Announcement

ECN Capital Corp. (TSE:ECN)’s share price hit a new 52-week high during mid-day trading on Monday after the company announced a dividend. The company traded as high as C$3.20 and last traded at C$3.20, with a volume of 168818 shares trading hands. The stock had previously closed at C$2.92.

The newly announced dividend which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Friday, December 13th. ECN Capital’s dividend payout ratio is presently -12.12%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ECN shares. CIBC boosted their target price on shares of ECN Capital from C$2.25 to C$2.50 in a research note on Friday, November 8th. Cormark boosted their target price 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. Finally, National Bank Financial raised shares of ECN Capital from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$2.52.

ECN Capital Stock Performance

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 firm has a market capitalization of C$868.66 million, a P/E ratio of -9.36, a P/E/G ratio of 0.24 and a beta of 1.35. The stock’s 50 day moving average is C$2.54 and its two-hundred day moving average is C$2.14.

Insider Buying and Selling

In related news, Director Steven Kenneth Hudson sold 20,300 shares of the business’s stock in a transaction that occurred on 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 insiders.

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.