Exchange Income (TSE:EIF) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Exchange Income's stock price has crossed above its 200-day moving average, trading as high as C$77.58, with a current price of C$77.16.
• Several brokerages have significantly raised their price targets for Exchange Income, with TD Securities setting a target of C$84.00 and Raymond James Financial boosting theirs to C$90.00.
• The company recently declared a dividend of $0.22, with a payout ratio of 100.38%, indicating a substantial commitment to return capital to shareholders.

Exchange Income Co. (TSE:EIF - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$63.69 and traded as high as C$77.58. Exchange Income shares last traded at C$77.16, with a volume of 83,764 shares.

Analysts Set New Price Targets

Several brokerages recently issued reports on EIF. TD Securities raised their price target on Exchange Income from C$70.00 to C$84.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. ATB Capital lifted their price target on Exchange Income from C$70.00 to C$81.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Desjardins lifted their price target on Exchange Income from C$73.00 to C$84.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Raymond James Financial boosted their target price on Exchange Income from C$85.00 to C$90.00 and gave the company a "strong-buy" rating in a research note on Wednesday, October 1st. Finally, CIBC boosted their price target on Exchange Income from C$74.50 to C$84.50 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Exchange Income currently has an average rating of "Buy" and a consensus price target of C$81.11.

Exchange Income Price Performance

The company has a market cap of C$3.96 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.42 and a beta of 0.76. 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 stock has a 50-day simple moving average of C$73.33 and a 200 day simple moving average of C$63.69.

Exchange Income Dividend Announcement

The company also recently announced a sep 25 dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 29th were paid a $0.22 dividend. Exchange Income's payout ratio is 100.38%.

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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