Cormark Comments on Exchange Income Co.’s Q3 2017 Earnings (TSE:EIF)
Exchange Income Co. (TSE:EIF) – Stock analysts at Cormark lowered their Q3 2017 earnings per share (EPS) estimates for shares of Exchange Income in a research note issued to investors on Friday. Cormark analyst D. Tyerman now anticipates that the company will earn $0.72 per share for the quarter, down from their prior estimate of $0.79. Cormark also issued estimates for Exchange Income’s Q4 2017 earnings at $0.55 EPS, FY2017 earnings at $2.28 EPS, Q1 2018 earnings at $0.28 EPS, Q2 2018 earnings at $0.82 EPS, Q3 2018 earnings at $0.81 EPS, Q4 2018 earnings at $0.62 EPS, FY2018 earnings at $2.60 EPS, FY2019 earnings at $2.78 EPS, FY2020 earnings at $2.91 EPS and FY2021 earnings at $3.06 EPS.
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A number of other equities research analysts have also recently commented on the stock. Royal Bank Of Canada reduced their price target on shares of Exchange Income from C$42.00 to C$38.00 and set a “sector perform” rating for the company in a report on Thursday, May 11th. Scotiabank reduced their price target on shares of Exchange Income from C$44.00 to C$43.00 and set an “outperform” rating for the company in a report on Thursday, May 11th. TD Securities upgraded shares of Exchange Income from a “hold” rating to a “buy” rating and raised their price target for the stock from C$44.00 to C$45.00 in a report on Thursday, May 11th. Canaccord Genuity reduced their price target on shares of Exchange Income from C$49.00 to C$44.00 and set a “buy” rating for the company in a report on Thursday, May 11th. Finally, CIBC reduced their price target on shares of Exchange Income from C$39.00 to C$35.00 and set a “neutral” rating for the company in a report on Friday. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of C$43.89.
Shares of Exchange Income (TSE:EIF) opened at 29.38 on Monday. The stock’s 50 day moving average is $31.89 and its 200 day moving average is $36.66. Exchange Income has a 52-week low of $28.63 and a 52-week high of $45.28. The firm has a market capitalization of $908.17 million and a PE ratio of 13.69.
In other Exchange Income news, Director Serena Kraayeveld acquired 1,000 shares of Exchange Income stock in a transaction dated Friday, July 21st. The stock was purchased at an average cost of C$29.48 per share, for a total transaction of C$29,480.00. Also, Director Edward Warkentin acquired 1,375 shares of Exchange Income stock in a transaction dated Thursday, May 11th. The shares were acquired at an average price of C$35.45 per share, with a total value of C$48,743.75. Insiders acquired 16,543 shares of company stock valued at $554,142 over the last 90 days.
The business also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be issued a $0.175 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 7.15%. This is a boost from Exchange Income’s previous monthly dividend of $0.16. The ex-dividend date is Thursday, July 27th.
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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