12:56 PM EDT, 03/22/2024 (MT Newswires) -- ECN Capital ( ECNCF ) reported Q4 Adj. EPS of -$0.05, missing street $0.01 and NBF -$0.01.

Key Takeaways:

According to National Bank, ECN's Q4 results were weak, and guidance was again reduced (by ~40%), and the strategic review of RV & Marine concluded with the status quo but requiring an acquisition or build-out of a servicing platform (increasing execution risk, in analyst Jaeme Gloyn's view).

Moreover, the growth and profitability trajectory of the operating segments remains uncertain, despite some signs of recovery.

Reiterate Sector Perform, cutting price target drops to $2.00 (was $2.75). Revising 2024 EPS estimate of $0.15 (was $0.19). Gloyn's estimate aligns with the top end of management's reduced 2024 EPS guidance of $0.10 to $0.16 (was $0.19 to $0.25).

Price: 1.71, Change: -0.71, Percent Change: -29.34