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    ECN   CA26829L1076

ECN CAPITAL CORP.

(ECN)
  Report
Delayed Toronto Stock Exchange  -  05/26 04:00:00 pm EDT
5.900 CAD   +2.25%
05/12TRANSCRIPT : ECN Capital Corp., Q1 2022 Earnings Call, May 12, 2022
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05/12ECN Capital Reports Q1 Adjusted EPS of US$0.06 Per Share
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05/12ECN Capital Corp. Reports Earnings Results for the First Quarter Ended March 31, 2022
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Toronto market climbs to 4-week high as Omicron fears recede

12/23/2021 | 04:35pm EDT

(Adds analyst quote and details throughout, updates prices)

* TSX ends up 148.88 points, or 0.7%, at 21,218.93

* Touches its highest closing level since Nov. 25

* Canada's economy likely grew 0.3% in November

* Financial shares rise 0.8%; technology ends up 1.5%

TORONTO, Dec 23 (Reuters) - Canada's main stock index rose for a third day on Thursday, as optimism that the Omicron variant of the coronavirus was less severe than feared bolstered commodity prices and data showed that the domestic economy likely grew in November.

The Toronto Stock Exchange's S&P/TSX composite index ended up 148.88 points, or 0.7%, at 21,218.93, adding to gains on Tuesday and Wednesday and its highest closing level since Nov. 25.

Wall Street's main indexes also rose after more encouraging developments about the impact of the Omicron variant.

"People are starting to realize the Omicron variant is not as bad as some of the other waves we've had," said Gregory Taylor, portfolio manager at Purpose Investments.

"So we're starting to see recovery in the commodities and investor sentiment, which really has been hurt earlier in the month."

The risk of needing to stay in hospital for patients with the Omicron variant is 40% to 45% lower than for patients with the Delta variant, according to research by London's Imperial College published on Wednesday.

Also welcome was a preliminary estimate showing that the Canadian economy grew 0.3% in November, its sixth consecutive month of expansion.

"Canada's economy was doing rather well at least in the pre-Omicron world," Derek Holt, head of capital markets economics at Scotiabank, said in a note.

The heavily-weighted financial services sector advanced 0.8%, helped by a 13.4% jump in the shares of ECN Capital Corp . Technology was up 1.5%.

U.S. crude oil futures settled 1.4% higher at $73.79 a barrel, helping energy shares hang on to much of this week's rally.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.5%. (Reporting by Fergal Smith; Additional reporting by Amal S in Bengaluru Editing by Alistair Bell)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ECN CAPITAL CORP. 2.25% 5.9 Delayed Quote.10.49%
LONDON BRENT OIL -0.42% 116.94 Delayed Quote.46.84%
S&P GSCI CRUDE OIL INDEX -0.54% 621.6155 Real-time Quote.46.70%
WTI -0.70% 113.229 Delayed Quote.46.90%
All news about ECN CAPITAL CORP.
05/12TRANSCRIPT : ECN Capital Corp., Q1 2022 Earnings Call, May 12, 2022
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05/12ECN Capital Reports Q1 Adjusted EPS of US$0.06 Per Share
MT
05/12ECN Capital Corp. Reports Earnings Results for the First Quarter Ended March 31, 2022
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05/12ECN Capital Reports US$0.06 in Adjusted Net Income per Common Share in Q1-2022
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05/12ECN Capital Reports US$0.06 in Adjusted Net Income per Common Share in Q1-2022
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05/12ECN Capital Board Declares Quarterly Dividend Payable on June 30, 2022
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05/05ECN Capital Schedules Q1-2022 Conference Call
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05/05ECN Capital Schedules Q1-2022 Conference Call
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04/07ECN Capital Announces Annual Meeting Voting Results
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04/07TRANSCRIPT : ECN Capital Corp. - Shareholder/Analyst Call
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Analyst Recommendations on ECN CAPITAL CORP.
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Financials
Sales 2022 367 M 287 M 287 M
Net income 2022 52,4 M 41,0 M 41,0 M
Net Debt 2022 - - -
P/E ratio 2022 27,4x
Yield 2022 0,68%
Capitalization 1 459 M 1 141 M 1 141 M
Capi. / Sales 2022 3,98x
Capi. / Sales 2023 3,34x
Nbr of Employees 490
Free-Float 89,9%
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 5,90 CAD
Average target price 7,50 CAD
Spread / Average Target 27,1%
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Managers and Directors
Steven K. Hudson Chief Executive Officer & Director
Michael Lepore Chief Financial Officer
William W. Lovatt Chairman
Randall Lyle Jeffrey Yasny Chief Investment Officer
Paul J. Stoyan Independent Director