Cormark Comments on Exchange Income Co.’s Third Quarter 2022 Results (TSE:EIF)


Exchange Income Co. (EAST: EIFGet a rating) – Investment analysts at Cormark raised their third-quarter 2022 earnings per share (EPS) estimates for Exchange Income in a research report published Monday, August 15. Cormark analyst J. Fenwick now expects the company to post earnings per share of $0.98 for the quarter, up from its previous forecast of $0.91. The consensus estimate of Exchange Income’s current annual earnings is $4.08 per share. Cormark also released estimates for Q2 2023 Exchange Income earnings at $1.11 EPS and Q3 2023 earnings at $1.13 EPS.

A number of other analysts have also published reports on the company. Raymond James raised its price target on Exchange Income from C$55.00 to C$62.00 and gave the stock a “strong buy” rating in a Friday, May 13 research note. ATB Capital raised its price target on Exchange Income from CA$60.00 to CA$65.00 in a research note on Monday. National Bankshares raised its exchange income price target from C$59.00 to C$61.00 and gave the stock an “outperform” rating in a research note on Monday. Scotiabank raised its price target on Exchange Income from C$56.00 to C$60.00 in a research note on Monday. Finally, Royal Bank of Canada raised its price target on Exchange Income from C$62.00 to C$63.00 and gave the stock an “outperform” rating in a report released Monday. Seven investment analysts gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat, Exchange Income has a consensus buy rating and an average price target of C$61.20.

Exchange income stock down 6.0%

Shares of EAST: EIF opened at C$48.36 on Tuesday. The stock’s 50-day moving average price is C$44.96 and its 200-day moving average price is C$43.46. The company has a current ratio of 1.90, a quick ratio of 1.04 and a debt ratio of 169.47. Foreign exchange income has a 12-month low of C$37.79 and a 12-month high of C$51.56. The company has a market cap of C$1.93 billion and a price-to-earnings ratio of 28.62.

Exchange Income Insider Activity

In related news, senior officer Adam Terwin purchased 10,000 shares of the company in a trade that took place on Thursday, June 30. The shares were acquired at an average cost of CA$41.85 per share, for a total transaction of CA$418,500.00. As a result of the acquisition, the insider now owns 10,000 shares of the company, valued at approximately C$418,500.

Exchange Income Company Profile

(Get a rating)

Exchange Income Corporation is engaged in aerospace and aircraft services and equipment and manufacturing businesses worldwide. It operates in two segments, aerospace and aviation and manufacturing. The Aerospace and Aviation segment provides scheduled, cargo, charter and emergency medical air services to communities located in Manitoba, Ontario, Nunavut, British Columbia and Alberta, as well as Newfoundland and Labrador, Quebec, New Brunswick and Nova Scotia.

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Earnings History and FX Earnings Estimates (TSE:EIF)

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