ECN Capital (TSE:ECN) Stock Price Down 1.4% - Here's Why

Key Points

• ECN Capital's stock price fell by 1.4%, closing at C$2.80 after trading volume decreased significantly, with only 71,955 shares traded compared to an average of 150,485.
• Raymond James downgraded ECN Capital to a "hold" rating with a target price of C$3.25, while the consensus rating of the stock is a "hold" with a target price of C$3.38.
• The company announced a quarterly dividend of $0.01 per share, with a yield of 1.4%, although its dividend payout ratio is notably high at 105.56%.

ECN Capital Corp. (TSE:ECN - Get Free Report)'s share price dropped 1.4% during mid-day trading on Wednesday . The stock traded as low as C$2.80 and last traded at C$2.80. Approximately 71,955 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 150,485 shares. The stock had previously closed at C$2.84.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ECN. Raymond James Financial downgraded 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 research note 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 "sector perform" rating in a report on Wednesday. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of C$3.38.

ECN Capital Stock Down 1.4%

The company's 50 day simple moving average is C$2.95 and its 200-day simple moving average is C$2.82. 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 firm has a market cap of C$788.14 million, a P/E ratio of 103.12, a PEG ratio of 0.24 and a beta of 1.37.

ECN Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, October 1st will be given a dividend of $0.01 per share. The ex-dividend date is Friday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 1.4%. ECN Capital's dividend payout ratio is 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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