Cormark Brokers Cut Earnings Estimates for Exchange Income Co. (TSE:EIF)

Exchange Income Co. (TSE:EIFGet Rating) – Cormark lowered their FY2022 EPS estimates for Exchange Income in a report issued on Wednesday, May 11th. Cormark analyst J. Fenwick now expects that the company will post earnings per share of $2.68 for the year, down from their prior estimate of $2.84. Cormark also issued estimates for Exchange Income’s Q4 2022 earnings at $0.82 EPS, Q1 2023 earnings at $0.58 EPS, Q2 2023 earnings at $0.98 EPS, Q3 2023 earnings at $0.99 EPS, Q4 2023 earnings at $0.90 EPS and FY2023 earnings at $3.45 EPS.

Exchange Income (TSE:EIFGet Rating) last announced its quarterly earnings results on Wednesday, February 23rd. The company reported C$0.71 EPS for the quarter. The business had revenue of C$390.33 million for the quarter.

EIF has been the subject of a number of other research reports. Raymond James set a C$55.00 target price on shares of Exchange Income and gave the company a “strong-buy” rating in a research note on Friday, February 25th. Scotiabank upgraded shares of Exchange Income to a “buy” rating and set a C$56.00 target price for the company in a research note on Wednesday. TD Securities cut their target price on shares of Exchange Income from C$52.00 to C$49.00 and set a “buy” rating for the company in a research note on Wednesday, May 4th. Finally, CIBC lifted their target price on shares of Exchange Income from C$44.00 to C$47.00 and gave the company a “neutral” rating in a research note on Thursday, April 14th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$51.70.

TSE:EIF opened at C$42.76 on Thursday. Exchange Income has a 1 year low of C$37.79 and a 1 year high of C$47.77. The firm has a 50 day moving average of C$41.37 and a 200-day moving average of C$42.41. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 161.35. The stock has a market capitalization of C$1.66 billion and a P/E ratio of 23.76.

The firm also recently announced a monthly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date was Wednesday, March 30th. Exchange Income’s dividend payout ratio is presently 126.67%.

About Exchange Income (Get Rating)

Exchange Income Corporation engages in aerospace and aviation services and equipment, and manufacturing businesses worldwide. It operates through two segments, Aerospace & Aviation, and Manufacturing. The Aerospace & Aviation segment offers scheduled airline and charter services, and emergency medical services to communities located in Manitoba, Ontario, Nunavut, British Columbia, and Alberta, as well as Newfoundland and Labrador, Quebec, New Brunswick, and Nova Scotia.

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Earnings History and Estimates for Exchange Income (TSE:EIF)

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