Exchange Income (TSE:EIF) Price Target Lowered to C$63.00 at Cormark

Exchange Income (TSE:EIFGet Rating) had its target price trimmed by Cormark from C$64.00 to C$63.00 in a report published on Wednesday, MarketBeat reports. The brokerage currently has a na rating on the stock.

Several other analysts have also recently issued reports on the stock. Canaccord Genuity Group upped their price target on shares of Exchange Income from C$52.00 to C$58.00 in a report on Thursday, May 12th. Raymond James upped their price target on shares of Exchange Income from C$55.00 to C$62.00 and gave the company a strong-buy rating in a report on Friday, May 13th. CIBC upped their price target on shares of Exchange Income from C$56.50 to C$59.00 in a report on Monday, August 15th. Royal Bank of Canada boosted their target price on shares of Exchange Income from C$63.00 to C$66.00 and gave the company an outperform rating in a research note on Tuesday. Finally, TD Securities started coverage on shares of Exchange Income in a research note on Wednesday. They set a buy rating and a C$66.00 target price for the company. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Buy and a consensus target price of C$61.30.

Exchange Income Trading Up 0.3 %

EIF opened at C$46.67 on Wednesday. The stock has a market capitalization of C$1.98 billion and a PE ratio of 23.22. The firm’s fifty day moving average price is C$46.10 and its 200 day moving average price is C$43.86. The company has a debt-to-equity ratio of 208.95, a current ratio of 1.89 and a quick ratio of 1.04. Exchange Income has a 12-month low of C$37.79 and a 12-month high of C$51.56.

Exchange Income Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $2.52 annualized dividend and a dividend yield of 5.40%. This is a positive change from Exchange Income’s previous monthly dividend of $0.20. Exchange Income’s dividend payout ratio is currently 114.43%.

Insider Transactions at Exchange Income

In other news, Senior Officer Adam Terwin purchased 10,000 shares of the stock in a transaction dated Thursday, June 30th. The stock was acquired at an average price of C$41.85 per share, for a total transaction of C$418,500.00. Following the completion of the transaction, the insider now owns 10,000 shares of the company’s stock, valued at C$418,500.

About Exchange Income

(Get Rating)

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

Further Reading

Analyst Recommendations for Exchange Income (TSE:EIF)

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