ECN Capital (ECN) Shares Down 1.5%
ECN Capital Corp (TSE:ECN) shares fell 1.5% during mid-day trading on Thursday . The company traded as low as C$3.99 and last traded at C$4.05. 3,535,716 shares traded hands during mid-day trading, an increase of 177% from the average session volume of 1,277,551 shares. The stock had previously closed at C$3.99.
A number of research firms have issued reports on ECN. TD Securities lifted their target price on ECN Capital from C$4.75 to C$5.00 and gave the company a “buy” rating in a research report on Monday, October 16th. CSFB upgraded ECN Capital from a “neutral” rating to an “outperform” rating and lifted their target price for the company from C$4.50 to C$4.75 in a research report on Saturday, September 23rd. Raymond James Financial lifted their target price on ECN Capital from C$4.75 to C$5.00 in a research report on Thursday, October 26th. Finally, Royal Bank of Canada decreased their target price on ECN Capital from C$5.00 to C$4.50 and set an “outperform” rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a buy rating, ECN Capital currently has a consensus rating of “Buy” and an average price target of C$4.86.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, December 28th. ECN Capital’s payout ratio is -30.77%.
In other news, Director Paul James Stoyan sold 35,000 shares of ECN Capital stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of C$3.80, for a total transaction of C$133,000.00.
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ECN Capital Company Profile
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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