ECN Capital Corp. Forecasted to Post Q2 2023 Earnings of $0.04 Per Share (TSE:ECN)

Posted by on Jul 31st, 2023

ECN Capital Corp. (TSE:ECN – Free Report) – Investment analysts at National Bank Financial reduced their Q2 2023 earnings per share estimates for shares of ECN Capital in a report released on Wednesday, July 26th. National Bank Financial analyst J. Gloyn now expects that the company will post earnings per share of $0.04 for the quarter, down from their prior estimate of $0.07. The consensus estimate for ECN Capital’s current full-year earnings is $0.21 per share. National Bank Financial also issued estimates for ECN Capital’s Q3 2023 earnings at $0.05 EPS, Q1 2024 earnings at $0.00 EPS and FY2024 earnings at $0.17 EPS.

A number of other equities analysts also recently issued reports on ECN. TD Securities dropped their price target on ECN Capital from C$4.00 to C$3.50 and set a “hold” rating on the stock in a research note on Tuesday, July 11th. CIBC lowered their target price on ECN Capital from C$3.50 to C$3.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 25th. Cormark lowered their target price on ECN Capital from C$3.25 to C$2.75 in a research report on Wednesday, May 17th. Finally, Raymond James downgraded ECN Capital from an “outperform” rating to a “market perform” rating and lowered their target price for the company from C$4.00 to C$3.00 in a research report on Wednesday, May 17th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, ECN Capital presently has a consensus rating of “Hold” and a consensus target price of C$3.66.

ECN Capital Stock Performance

ECN stock opened at C$2.60 on Monday. The company has a market cap of C$639.03 million, a P/E ratio of -26.00, a price-to-earnings-growth ratio of 0.24 and a beta of 1.09. ECN Capital has a 1 year low of C$2.34 and a 1 year high of C$7.29. The company has a debt-to-equity ratio of 626.36, a current ratio of 8.98 and a quick ratio of 3.81. The stock’s fifty day moving average price is C$2.83 and its 200-day moving average price is C$2.96.

ECN Capital (TSE:ECN – Get Free Report) last posted its earnings results on Monday, May 15th. The company reported C$0.01 EPS for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.03). The business had revenue of C$64.70 million during the quarter, compared to the consensus estimate of C$79.65 million. ECN Capital had a negative return on equity of 6.35% and a negative net margin of 5.96%.

ECN Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 30th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $0.04 dividend on an annualized basis and a yield of 1.54%. ECN Capital’s dividend payout ratio is presently -40.00%.

ECN Capital Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for ECN Capital (TSE:ECN)

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