ECN Capital (ECN) was Downgraded to a Hold Rating at Scotiabank


In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, ECN Capital (ECN). Scotiabank’s analyst Phil Hardie expressed some doubt on February 19 about the stock, as it was downgraded to Hold , with a C$4.50 price target.

Hardie has an average return of 16.6% when recommending ECN Capital.

According to TipRanks.com, Hardie is ranked #1575 out of 5188 analysts.

Currently, the analyst consensus on ECN Capital is a Strong Buy with an average price target of C$4.75.

Based on ECN Capital’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$75.13 million. In comparison, last year the company had a GAAP net loss of C$10.88 million.

ECN Capital Corp. provides consumer credit portfolios to more than ninety U.S. financial institutions. The company originates, manages, and advises on prime consumer credit assets for financial institutions offering unsecured and secured consumer portfolio solutions as well as credit card portfolios.

The company’s shares closed on Wednesday at C$4.04, equals to its 52-week high of C$4.04.

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