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Exchange Income Corporation (EIFZF)
Other OTC - Other OTC Delayed Price. Currency in USD
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Looks like a buying opportunity is here.
What an amazing earning. Revenue & EPS beat, record high net income & revenue. Free cash flow looking good.
From Globe and Mail, November 16, 2021
* TD Securities analyst Tim James raised his Exchange Income Corp. ( EIF-T +1.03%increase
) target to $55 from $53, exceeding the $52.82 average, with a “buy” rating, while Raymond James’ Steve Hansen raised his target to $55 from $52 with a “strong buy” recommendation.
“We are increasing our target ... based upon: 1) another strong beat highlighting the strength/resiliency of the company’s specialty Aerospace & Aviation (A&A) segment; and 2) our increasingly upbeat view of the firm’s embedded growth prospects and ability to capitalize on the forthcoming economic recovery,” said Mr. Hansen.
When do we expect EIF to increase the dividend?
dividend bump incoming?
Does anyone see any issues EIF might run into with the possibility of internet rates rising in 2022? Also how much of an impact do higher oil prices have on their airline business?
Well done EIF. Thank you !
Looks like the macD just crossed an encounter to a bit more of a break out. All time highs were reached today. Time for a dividend increase?
Setting new ATH
Yahoo Finance Insights
EIF.TO reached a 52 Week high at 46.25
I thought it would be good to place something here regarding EIF dividend payout ratio.
Some lazy sites often calculate payout ratio incorrectly using earnings instead of cash flow, stupidly making the dividend look like it's on shaky ground. You have to know where the dividend is coming from.
EIF's current 62% Payout Ratio is pretty healthy.
This is from the 'CEO's Message' preamble of the Exchange Income Corp.'s First Quarter Report for the three months ended March 31, 2021. The report is up there on their site easily accessible.
---------------------- start of blurb -------------------------------
Highlights from EIC’s first quarter financial performance include:
• EBITDA of $64 million, an increase of 12% over the prior period
• Revenue of $301 million, a decrease of 2% from the prior period
• Adjusted Net Earnings of $11 million or $0.30 per basic share, an increase of 413% and 400%, respectively, over the prior period
• Free Cash Flow of $42 million or $1.17 per basic share, an increase of 7% and 4%, respectively, over the prior period
• Free Cash Flow less Maintenance Capital expenditures improved to $0.55 per basic share, from $0.07 in the prior period
• Free Cash Flow less Maintenance Capital Expenditures payout ratio strengthens to 62% on a trailing twelve-month basis, improving from 68% at March 31, 2020
EIC’s payout ratio on a Free Cash Flow less Maintenance Capital Expenditures basis is a strong indicator of our ability to navigate the
pandemic and manage cash flow. The Company has maintained a healthy 62% payout ratio, stronger than the 68% recorded in the twelve
months ending March 31, 2020, despite a full year of operation in the pandemic environment.
---------------------- end of blurb -------------------------------
As per Globe and Mail May 13
"Exchange Income Corp. (EIF-T) said its first-quarter revenue grew 3 per cent to $307-million year-over-year. Analysts were expecting revenue of $326.6-million.
Its net loss was $5.3-million, or 15 cents per share, versus a profit of $7.5-million, or 24 cents per share, a year earlier. Adjusted earnings were $2.1-million, or 6 cents, versus $12.7-million, or 41 cents, a year ago.
The company said its Alberta operations have been heavily impacted by both the COVID-19 pandemic and record low oil prices, "which have caused many companies to delay or cancel large capital projects." As a result, the corporation recorded a $6.1-million impairment charge against intangible assets related to the Alberta operations during the quarter."
This is the most important quote in the annual report:
“From a financial perspective, the Corporation generated sufficient cash flow since the onset of the pandemic to cover its Maintenance Capital Expenditures, invest in the future through Growth Capital Expenditures and complete the acquisition of Window Installation Specialists Inc. ("WIS"), pay its dividend and reduce its debt, net of cash."
Government of Canada just announced up to $174 million in funding for the next year in support of small Northern air carriers. This is good news for this company and it’s subsidiaries.
Market expected .35/share, here we have .59/share. Should be a nice bump tomorrow. Huge cash flow on the quarter as well. It's hard to believe a company in the aerospace sector primarily is this well managed and performing this well under pressure. Hats off to the management team. If there was anyone left nervous about their ability to fund the dividend they should sleep easy.
Just started a small position of 100 shares. Maybe bad time to join since it has been steadily climbing. Will start doing more intensive DD. Just wanted to get in before end of month.
I bought today. Company is in good condition and with this type of management at the helm, their u drawn capital may be used to make an acquisition. Even in 2008, they increased their dividends. I wouldn't bet against this team pulling something off here! Besides, their northern airlines are deemed essential. So while travel may have stalled, supply movement becomes essential!
A different J
I'm doing a little window shopping here. Looking to save a touch of time. Would someone care to address the listed 200% payout ratio with EIF. Thank you in advance of your response.
Got only 200 shares on this puppy, wished I bought more months back!
I appreciate the reply to my earlier comment on dividends. I am reading more about EIF to see if it's safe as the dividend is quite high. Analysts tracked by Refinitiv give it a 1 year target of 44.70, that's a more than 10% potential gain from here. Do you wish to share your own experience with this stock over the years, i.e. surprises good and bad, disappointment, whatever with me and others who may be reading this post? Thanks again!
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