In a new note to investors yesterday, an analyst has provided a rating update for the Financial sector company, ECN Capital (ECN). Analyst Geoffrey Kwan from RBC Capital remains bullish on the stock and has a C$5 price target.
According to TipRanks.com, Kwan is a 3-star analyst with an average return of 2.1% and a 47.1% success rate. Kwan covers the Financial sector, focusing on stocks such as Element Financial, IGM Financial, and Sprott Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ECN Capital with a C$4.83 average price target, a 19.0% upside from current levels. In a report released yesterday, National Bank also maintained a Buy rating on the stock with a C$5 price target.
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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 Thursday at C$4.06.
