ECN Capital (TSE:ECN) Shares Cross Above 50 Day Moving Average - Here's Why

ECN Capital Corp. (TSE:ECN - Get Free Report)'s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$2.11 and traded as high as C$2.18. ECN Capital shares last traded at C$2.06, with a volume of 1,641,575 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ECN. CIBC lifted their price objective on ECN Capital from C$2.00 to C$2.25 in a research note on Thursday, August 8th. National Bankshares boosted their price objective on ECN Capital from C$2.25 to C$2.50 in a report on Thursday, August 8th. Finally, BMO Capital Markets raised their target price on shares of ECN Capital from C$2.00 to C$2.35 in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, ECN Capital currently has a consensus rating of "Hold" and a consensus price target of C$2.48.

ECN Capital Stock Performance

The business has a 50 day simple moving average of C$2.11 and a two-hundred day simple moving average of C$1.93. The company has a quick ratio of 3.81, a current ratio of 10.77 and a debt-to-equity ratio of 383.08. The firm has a market cap of C$660.63 million, a PE ratio of -7.12, a price-to-earnings-growth ratio of 0.24 and a beta of 1.35.

ECN Capital (TSE:ECN - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported C$0.04 earnings per share for the quarter, hitting analysts' consensus estimates of C$0.04. ECN Capital had a negative return on equity of 33.69% and a negative net margin of 55.01%. The company had revenue of C$79.37 million during the quarter, compared to analyst estimates of C$75.42 million. As a group, equities research analysts forecast that ECN Capital Corp. will post 0.2446449 earnings per share for the current fiscal year.

ECN Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Friday, September 13th. ECN Capital's dividend payout ratio (DPR) is presently -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.