Canaccord Genuity Group Boosts Exchange Income (TSE:EIF) Price Target to C$70.00

Exchange Income (TSE:EIF) had its price target lifted by Canaccord Genuity Group from C$68.00 to C$70.00 in a research report released on Wednesday morning, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research firms have also issued reports on EIF. ATB Capital increased their price target on shares of Exchange Income from C$66.00 to C$67.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. CIBC increased their target price on Exchange Income from C$61.50 to C$62.50 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, TD Securities raised their target price on Exchange Income from C$65.00 to C$69.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Exchange Income currently has a consensus rating of “Buy” and a consensus target price of C$65.28.

Exchange Income Stock Performance

EIF opened at C$54.75 on Wednesday. The stock’s 50 day simple moving average is C$51.29 and its 200-day simple moving average is C$48.08. The company has a current ratio of 1.77, a quick ratio of 1.13 and a debt-to-equity ratio of 171.03. The stock has a market cap of C$2.60 billion, a PE ratio of 22.62, a P/E/G ratio of 1.42 and a beta of 2.04. Exchange Income has a 1 year low of C$42.05 and a 1 year high of C$56.59.

Exchange Income (TSE:EIF) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.78 by C$0.02. The firm had revenue of C$660.58 million for the quarter, compared to analyst estimates of C$677.10 million. Exchange Income had a net margin of 4.44% and a return on equity of 9.38%. Sell-side analysts forecast that Exchange Income will post 3.9962963 EPS for the current year.

Exchange Income Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, October 31st. This represents a $2.64 dividend on an annualized basis and a yield of 4.82%. Exchange Income’s dividend payout ratio is 109.09%.

About Exchange Income

Exchange Income Corporation, together with its subsidiaries, engages in aerospace and aviation services and equipment, and manufacturing businesses worldwide. The company Aerospace & Aviation, and Manufacturing segments. The Aerospace & Aviation segment offers fixed wing and rotary wing, medevac, passenger, charter, freight, and auxiliary services; and operates two flight schools and trains pilots.