ECN Capital Corp (ECN) Shares Up 5.3%
ECN Capital Corp (TSE:ECN) shares shot up 5.3% during mid-day trading on Friday . The stock traded as high as C$4.05 and last traded at C$3.97. 3,263,712 shares changed hands during mid-day trading, an increase of 156% from the average session volume of 1,275,370 shares. The stock had previously closed at C$3.77.
Several research firms recently issued reports on ECN. Scotiabank increased their price target on shares of ECN Capital Corp from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. TD Securities dropped their price objective on shares of ECN Capital Corp from C$5.00 to C$4.75 and set a “buy” rating for the company in a report on Thursday, August 10th. CSFB raised shares of ECN Capital Corp from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from C$4.50 to C$4.75 in a report on Saturday. Royal Bank Of Canada raised their price objective on shares of ECN Capital Corp from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a report on Friday, June 9th. Finally, National Bank Financial raised their price objective on shares of ECN Capital Corp from C$4.75 to C$5.00 and gave the stock an “outperform” rating in a report on Friday, June 9th. Ten investment analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of C$4.81.
The company has a market cap of $1.54 billion and a price-to-earnings ratio of 5.52. The company’s 50 day moving average is $3.76 and its 200-day moving average is $3.76.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Thursday, September 28th.
In other ECN Capital Corp news, insider Sandra Lorena Ceccacci purchased 40,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of C$3.90 per share, for a total transaction of C$156,000.00. Also, Director Paul James Stoyan sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of C$3.80, for a total transaction of C$133,000.00. Over the last quarter, insiders have purchased 112,800 shares of company stock valued at $438,130.
About ECN Capital Corp
ECN Capital Corp., an independent financial services company, originates, co-invests in, and manages asset based financing and related service programs in the United States, Canada, and internationally. The company operates through three segments: Rail Finance, Aviation Finance, and Commercial and Vendor Finance.
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