Exchange Income (TSE:EIF) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Exchange Income Co. (TSE:EIF) has seen its stock price surpass its two hundred-day moving average of C$60.33, trading as high as C$72.61 during recent sessions.
• Analysts have upgraded their price targets significantly, with Canaccord Genuity raising their target to C$80.00 and Raymond James Financial to C$85.00, reflecting a strong bullish sentiment on the stock.
• The company announced a dividend of $0.22 per share to be paid on October 15th, aligning with a dividend payout ratio of over 100%.

Exchange Income Co. (TSE:EIF - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$60.33 and traded as high as C$72.61. Exchange Income shares last traded at C$72.53, with a volume of 128,312 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Exchange Income from C$77.00 to C$80.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Scotiabank increased their target price on shares of Exchange Income from C$66.00 to C$80.00 and gave the company an "outperform" rating in a research note on Wednesday, August 13th. BMO Capital Markets increased their target price on shares of Exchange Income from C$59.00 to C$65.50 and gave the company a "market perform" rating in a research note on Wednesday, August 13th. Raymond James Financial increased their target price on shares of Exchange Income from C$80.00 to C$85.00 and gave the company a "strong-buy" rating in a research note on Wednesday, August 13th. Finally, TD Securities increased their target price on shares of Exchange Income from C$70.00 to C$84.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Exchange Income currently has an average rating of "Buy" and an average target price of C$80.18.

Exchange Income Trading Up 1.0%

The stock has a market cap of C$3.73 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.42 and a beta of 0.88. The company has a debt-to-equity ratio of 173.72, a quick ratio of 1.13 and a current ratio of 1.76. The company's 50 day simple moving average is C$70.07 and its two-hundred day simple moving average is C$60.33.

Exchange Income Announces Dividend

The business also recently disclosed a sep 25 dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be paid a $0.22 dividend. Exchange Income's dividend payout ratio is presently 100.38%.

Exchange Income Company Profile

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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