Exchange Income Co. (EIF) Receives Average Recommendation of “Buy” from Analysts
Exchange Income Co. (TSE:EIF) has been given a consensus rating of “Buy” by the nine analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is C$43.56.
Several equities research analysts recently commented on the stock. TD Securities cut their target price on shares of Exchange Income from C$45.00 to C$42.00 and set a “buy” rating on the stock in a research report on Monday, July 24th. Canaccord Genuity cut their target price on shares of Exchange Income from C$44.00 to C$42.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Scotiabank cut their target price on shares of Exchange Income from C$43.00 to C$42.00 and set an “outperform” rating on the stock in a research report on Friday, July 21st. CIBC cut their target price on shares of Exchange Income from C$39.00 to C$35.00 and set a “neutral” rating on the stock in a research report on Friday, July 21st. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a C$38.00 target price on shares of Exchange Income in a research report on Friday, July 7th.
Shares of Exchange Income (EIF) traded down 2.26% during trading on Wednesday, reaching $32.91. 110,080 shares of the company traded hands. The firm has a market capitalization of $1.02 billion and a price-to-earnings ratio of 15.34. The company has a 50 day moving average price of $30.23 and a 200 day moving average price of $33.87. Exchange Income has a 12-month low of $25.80 and a 12-month high of $45.28.
The company also recently declared a monthly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were given a $0.175 dividend. The ex-dividend date was Thursday, July 27th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 6.24%. This is an increase from Exchange Income’s previous monthly dividend of $0.16.
In other news, Director Gary Filmon purchased 2,700 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were purchased at an average price of C$32.03 per share, for a total transaction of C$86,481.00. Also, insider Tamara Schock purchased 2,690 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was purchased at an average price of C$27.80 per share, for a total transaction of C$74,782.00. Insiders bought a total of 80,460 shares of company stock worth $2,339,498 in the last 90 days.
About Exchange Income
Exchange Income Corporation is focused on opportunities in aerospace and aviation services and equipment, and manufacturing. The Company operates through two segments: Aviation and Manufacturing. The Aviation segment provides scheduled airline and charter service, and emergency medical services to communities located in Manitoba, Ontario and Nunavut.
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