ECN Capital (TSE:ECN) Shares Down 1% - Here's Why

Key Points

• ECN Capital shares fell by 1%, trading at C$2.93 after hitting a low of C$2.90, with trading volume decreasing significantly by 70% compared to the average daily volume.
• Analysts have revised their ratings, with Raymond James downgrading the stock from "moderate buy" to "hold" and setting a price target of C$3.25.
• The company announced a quarterly dividend of $0.01 per share, representing a dividend yield of 1.4%, despite a high dividend payout ratio of 105.56%.

ECN Capital Corp. (TSE:ECN - Get Free Report) dropped 1% during mid-day trading on Wednesday . The company traded as low as C$2.90 and last traded at C$2.93. Approximately 47,121 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 158,423 shares. The stock had previously closed at C$2.96.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ECN shares. Raymond James Financial lowered shares of ECN Capital from a "moderate buy" rating to a "hold" rating and set a C$3.25 target price on the stock. in a report on Friday, August 8th. Royal Bank Of Canada set a C$3.25 price objective on shares of ECN Capital and gave the stock a "hold" rating in a research note on Wednesday, October 1st. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of C$3.38.

ECN Capital Stock Down 1.0%

The stock's 50-day moving average price is C$2.89 and its 200-day moving average price is C$2.84. The company has a current ratio of 13.28, a quick ratio of 3.81 and a debt-to-equity ratio of 304.13. The stock has a market cap of C$824.73 million, a price-to-earnings ratio of 107.90, a P/E/G ratio of 0.24 and a beta of 1.22.

ECN Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, October 1st were given a dividend of $0.01 per share. The ex-dividend date was Friday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 1.4%. ECN Capital's dividend payout ratio is presently 105.56%.

About ECN Capital

ECN Capital Corp is a financial business service provider. It originates, structures and manages financial products and provides advisory services for financial institutions. The company's operating segment includes Service Finance - Home Improvement Loans; KG - Consumer Credit Card Portfolios and Related Financial Products; Triad Financial Services - Manufactured Home Loans and Corporate.

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