Scotiabank Issues Positive Forecast for Exchange Income (TSE:EIF) Stock Price

Key Points

• Scotiabank raised Exchange Income’s price target to C$150 from C$140 and maintained a “sector outperform” rating, implying 10.56% upside from the prior close.
• Analyst sentiment is broadly positive: Exchange Income has a consensus “Buy” rating and an average target of C$145.92, with several brokerages recently increasing their targets.
• The stock closed at C$135.67, near its 12-month high of C$136.75, after reporting quarterly EPS of C$1.13 and revenue of C$952.16 million.

Exchange Income (TSE:EIF - Get Free Report) had its price objective increased by stock analysts at Scotiabank from C$140.00 to C$150.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a "sector outperform" rating on the stock. Scotiabank's price target indicates a potential upside of 10.56% from the company's previous close.

A number of other brokerages have also recently issued reports on EIF. Paradigm Capital increased their target price on shares of Exchange Income from C$120.00 to C$122.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Desjardins lifted their price objective on Exchange Income from C$135.00 to C$145.00 and gave the stock a "buy" rating in a report on Wednesday. BMO Capital Markets upped their target price on Exchange Income from C$140.00 to C$152.00 in a report on Thursday. TD raised their target price on shares of Exchange Income from C$142.00 to C$151.00 and gave the company a "buy" rating in a report on Thursday. Finally, ATB Cormark Capital Markets raised their price objective on shares of Exchange Income from C$125.00 to C$146.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating and twelve have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of C$145.92.

Exchange Income Price Performance

EIF stock traded up C$0.24 on Thursday, reaching C$135.67. 101,343 shares of the company's stock were exchanged, compared to its average volume of 174,114. The stock has a fifty day moving average of C$128.73 and a 200-day moving average of C$112.60. The firm has a market cap of C$7.64 billion, a PE ratio of 39.10, a P/E/G ratio of 1.42 and a beta of 1.03. The company has a quick ratio of 1.12, a current ratio of 1.64 and a debt-to-equity ratio of 141.03. Exchange Income has a twelve month low of C$69.67 and a twelve month high of C$136.75.

Exchange Income (TSE:EIF - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported C$1.13 EPS for the quarter. The company had revenue of C$952.16 million during the quarter. Exchange Income had a return on equity of 11.35% and a net margin of 5.41%. As a group, equities analysts predict that Exchange Income will post 3.9962963 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Duncan Draper Jessiman sold 1,000 shares of the business's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of C$130.64, for a total value of C$130,640.00. Following the completion of the transaction, the director owned 5,080 shares of the company's stock, valued at approximately C$663,651.20. The trade was a 16.45% decrease in their position. Insiders own 6.44% of the company's stock.

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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