Exchange Income (TSE:EIF) Hits New 1-Year High Following Analyst Upgrade

Key Points

• Exchange Income Co. (TSE:EIF) reached a new 52-week high of C$75.13 following an analyst upgrade by Paradigm Capital, which raised its price target from C$68.00 to C$82.00.
• Multiple analysts have lifted their price objectives for Exchange Income, with Desjardins and National Bankshares both setting targets of C$84.00 and maintaining buy ratings.
• The company has announced a dividend of $0.22 payable on August 15th, with a high dividend payout ratio of 103.42%.

Exchange Income Co. (TSE:EIF - Get Free Report)'s share price reached a new 52-week high during trading on Thursday after Paradigm Capital raised their price target on the stock from C$68.00 to C$82.00. Paradigm Capital currently has a buy rating on the stock. Exchange Income traded as high as C$75.13 and last traded at C$74.98, with a volume of 276696 shares. The stock had previously closed at C$73.22.

EIF has been the subject of several other research reports. Desjardins lifted their price objective on Exchange Income from C$73.00 to C$84.00 and gave the stock a "buy" rating in a report on Wednesday. National Bankshares lifted their price objective on Exchange Income from C$71.00 to C$84.00 and gave the stock an "outperform" rating in a report on Wednesday. Scotiabank lifted their price objective on Exchange Income from C$66.00 to C$80.00 and gave the stock an "outperform" rating in a report on Wednesday. Cormark lifted their price objective on Exchange Income from C$67.00 to C$78.50 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, ATB Capital lifted their price objective on Exchange Income from C$70.00 to C$81.00 and gave the stock an "outperform" rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of C$79.68.

Exchange Income Stock Up 2.4%

The company has a market capitalization of C$3.74 billion, a PE ratio of 29.37, a P/E/G ratio of 1.42 and a beta of 2.04. The company has a debt-to-equity ratio of 173.72, a current ratio of 1.76 and a quick ratio of 1.13. The company has a 50-day moving average of C$63.67 and a two-hundred day moving average of C$56.24.

Exchange Income Dividend Announcement

The firm also recently disclosed a jul 25 dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be paid a $0.22 dividend. Exchange Income's dividend payout ratio (DPR) is 103.42%.

About Exchange Income

Exchange Income Corp is a diversified acquisition-oriented corporation focused on opportunities in two sectors, aerospace, aviation services and equipment, and manufacturing. The business plan of the corporation is to invest in profitable, well-established companies with strong cash flows operating in niche markets.

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