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The Royal Bank of Canada has reduced its price target for ECN Capital (TSE:ECN) to C$4.00.

The Royal Bank of Canada has reduced its price target for ECN Capital (TSE:ECN) to C$4.00.

According to BayStreet.CA, research analysts at the Royal Bank of Canada lowered the price objective for ECN Capital (TSE: ECN) in a note delivered to investors on Thursday. The new price objective is C$4.00, which decreases from the previous price objective of C$5.00. The note was distributed to investors through the ECN system. Compared to the stock’s current price, the target price that the Royal Bank of Canada established may increase by 51.52% shortly.
Several additional equity analysts have recently provided their commentary on the stock while it was the topic of discussion. Stephens announced in a research note published on November 10 that they would be decreasing their price target for ECN Capital shares from C$7.50 to C$5.00. The previous target price was $7.50. Cormark stated their intention to reduce their price objective on ECN Capital from C$5.50 (which they had previously set) to C$5.00 in a research note published on November 10. In a research note published on November 10, National Bankshares lowered their “outperform” rating that they had previously assigned to ECN Capital to “neutral,” and they lowered their price target for the stock from C$8.50 to C$5.00. In a report published on November 10, Raymond James lowered their “outperform” rating that they had previously assigned to ECN Capital to “neutral,” and they lowered their target price for the stock from C$7.50 to C$5.50.
Last but not least, on Thursday, November 10, BMO Capital Markets lowered their price objective for ECN Capital from C$6.00 to C$4.00 and downgraded the company from “outperform” to “market perform.” This was certainly not the last business action taken by the company. Six analysts have assigned a “buy” rating to the stock, while only two have assigned a “hold” rating to the stock. The consensus price objective is currently set at 5.50 Canadian dollars, and Bloomberg.com reports that the average rating for the company is currently a “Moderate Buy.”
On Thursday, prices on the TSE ECN experienced a decline of C$0.13, bringing them to a new all-time low of C$2.64. There were 555,776 transactions involving the company’s stock, with an average volume of 752,014. In total, the volume of trades was 555,776. A debt-to-equity ratio comes in at 493.70; a quick ratio comes in at 3.81; a current ratio comes in at 5.28; and a quick ratio comes in at 3.81. The moving averages of the company’s price in Canadian dollars over the past 50 and 200 days are 3.11 and 4.61, respectively. ECN Capital reached its all-time high of 7.29 Canadian dollars one year ago, while it hit its all-time low of 2.60 Canadian dollars that same year. The company presently has a market value of $647.81 million, and its PE ratio stands at 22.00.
Wednesday, November 9, was the day that the results of ECN Capital’s most recent quarterly financial report were made public. The company trades under the ticker symbol “TSE: ECN.” The quarterly earnings came in at C$0.07 per share, which was C$0.08 less than the consensus estimate of C$0.08 that analysts made for the quarter (0.01). In addition, the amount of money the company brought in during the quarter was C$75.69 million, which is lower than the consensus forecast of C$76.70 million made before the quarter began. According to these estimates, it is anticipated by sell-side analysts that ECN Capital will generate $0.36 in earnings per share in 2018.
In related news, on November 11, Director Paul James Stoyan purchased 24,200 shares of the company’s stock. This information is relevant to the discussion that has been going on. When the purchasers of the shares went through the process of buying them, they paid an average of $3.24 for each share, bringing the total cost to 78,408.08 Canadian dollars. Because of the acquisition, the director now owns a total of 700,879 shares, and their combined value is approximately $2,270,847.96 in Canadian dollars.
In North America, ECN Capital Corp. is in charge of not only the origination of prime consumer credit portfolios but also their oversight and advice. Its two primary business divisions are Consumer Credit Cards and Related Unsecured Consumer Loans. At the same time, Secured Consumer Loans (offered through Triad Financial Services and Source One) are the other primary business division it operates (KG). In addition, the company provides consumer credit card portfolios, emphasizing co-branded credit card offerings and other related financial products, and secured consumer loan portfolios, including loans for prefabricated houses, boats, and recreational vehicles.

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