Exchange Income Co. (TSE:EIF) Receives Consensus Recommendation of “Buy” from Brokerages
Exchange Income Co. (TSE:EIF) has received an average recommendation of “Buy” from the nine analysts that are presently covering the stock, MarketBeat.com reports. Two equities research 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 company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$43.56.
A number of research analysts recently weighed in on EIF shares. TD Securities decreased their target price on Exchange Income from C$45.00 to C$42.00 and set a “buy” rating on the stock in a report on Monday. Canaccord Genuity decreased their price objective on Exchange Income from C$49.00 to C$44.00 and set a “buy” rating on the stock in a report on Thursday, May 11th. CIBC decreased their price objective on Exchange Income from C$39.00 to C$35.00 and set a “neutral” rating on the stock in a report on Friday. Scotiabank decreased their price objective on Exchange Income from C$43.00 to C$42.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a C$38.00 price objective on shares of Exchange Income in a report on Friday, July 7th.
Shares of Exchange Income (TSE:EIF) traded down 2.29% during midday trading on Tuesday, hitting $26.43. 429,399 shares of the stock traded hands. Exchange Income has a 12-month low of $25.80 and a 12-month high of $45.28. The firm’s 50 day moving average price is $31.89 and its 200 day moving average price is $36.66. The company has a market capitalization of $816.98 million and a PE ratio of 12.32.
The firm also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $2.10 annualized dividend and a yield of 7.76%. This is a boost from Exchange Income’s previous monthly dividend of $0.16.
In other Exchange Income news, insider Carmele Peter bought 870 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average price of C$28.77 per share, with a total value of C$25,029.90. Also, Director Donald Streuber bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were acquired at an average cost of C$27.53 per share, with a total value of C$137,650.00. Insiders have purchased 22,413 shares of company stock valued at $716,822 in the last ninety days.
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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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