Exchange Income (TSE:EIF) Shares Down 6.8% - Here's What Happened

Key Points

• Shares fell 6.8% intraday to C$97.54 on Friday (previous close C$104.66) with 130,687 shares traded, roughly 25% below average session volume.
• Multiple brokers (RBC, CIBC, Canaccord, Ventum, TD) raised price targets on Feb. 26, leaving a MarketBeat consensus "Buy" rating and an average target of C$116.96.
• Exchange Income reported quarterly EPS of C$1.06 on C$929.55M revenue and analysts expect about 3.996 EPS for the year; a director sold 3,000 shares (C$305,400), cutting their stake and leaving insiders with 6.44% ownership.

Exchange Income Co. (TSE:EIF - Get Free Report) traded down 6.8% during trading on Friday . The company traded as low as C$95.62 and last traded at C$97.54. 130,687 shares were traded during mid-day trading, a decline of 25% from the average session volume of 173,463 shares. The stock had previously closed at C$104.66.

Analysts Set New Price Targets

EIF has been the topic of a number of recent research reports. Royal Bank Of Canada upped their target price on shares of Exchange Income from C$103.00 to C$133.00 and gave the stock an "outperform" rating in a research note on Thursday, February 26th. Canadian Imperial Bank of Commerce increased their price target on Exchange Income from C$106.00 to C$120.00 and gave the stock an "outperform" rating in a report on Thursday, February 26th. Canaccord Genuity Group raised their target price on Exchange Income from C$109.00 to C$116.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Ventum Financial raised their price target on Exchange Income from C$110.00 to C$135.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Finally, TD Securities raised their price target on Exchange Income from C$102.00 to C$125.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Exchange Income has a consensus rating of "Buy" and an average price target of C$116.96.

Exchange Income Stock Down 5.7%

The firm has a 50-day moving average of C$103.37 and a 200 day moving average of C$92.06. The stock has a market capitalization of C$5.56 billion, a price-to-earnings ratio of 31.63, a price-to-earnings-growth ratio of 1.42 and a beta of 0.98. The company has a current ratio of 1.71, a quick ratio of 1.13 and a debt-to-equity ratio of 149.91.

Exchange Income (TSE:EIF - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The company reported C$1.06 earnings per share (EPS) for the quarter. The business had revenue of C$929.55 million for the quarter. Exchange Income had a return on equity of 10.61% and a net margin of 5.11%. On average, sell-side analysts anticipate that Exchange Income Co. will post 3.9962963 earnings per share for the current year.

Insider Transactions at Exchange Income

In related news, Director Duncan Draper Jessiman sold 3,000 shares of Exchange Income stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of C$101.80, for a total transaction of C$305,400.00. Following the transaction, the director directly owned 6,080 shares of the company's stock, valued at C$618,944. The trade was a 33.04% decrease in their ownership of the stock. 6.44% of the stock is currently owned by insiders.

Exchange Income Company Profile

Exchange Income Corporation is a diversified acquisition-oriented company, focused in two segments: Aerospace & Aviation and Manufacturing. The Corporation uses a disciplined acquisition strategy to identify already profitable, well-established companies that have strong management teams, generate steady cash flow, operate in niche markets and have opportunities for organic growth.

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