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Exchange Income Corporation (EIF.TO)

Toronto - Toronto Delayed Price. Currency in CAD
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29.81+0.03 (+0.10%)
As of 2:26PM EDT. Market open.
  • l
    larry
    larry
    short squeeze tomorrow?
  • p
    prabhat
    prabhat
    Thsi si what NBF wrote on July 5 on their research minutes.

    Disagree with aviation valuation
    Valuing an airline/aerospace portfolio like EIF’s at ~4x (roughly the same EV/EBITDAR
    valuation as Air Canada) is simply too conservative given its relative merits vs. traditional
    carriers. Roughly half of EIF’s flights are estimated to be funded by governments, it does
    essential medevac / air ambulance / marine surveillance offerings, it has a large and growing
    global aerospace segment, significant ground infrastructure throughout its footprint providing
    a material competitive advantage and essential relationships with First Nations. The short
    seller arrives at a nil equity value for EIF ex-RegionalOne, but we argue the math is far too
    punitive.
     Questioning the integrity of flight count data provided
    Page 31 of the short report provides a table outlining y/y flight count and cancellations
    by month since October 2016 for Perimeter, Calm Air and Bearskin from a source called
    FlightAware. While we cannot validate the integrity of the data, we question its accuracy,
    as it indicates that May’s flights were down 53% y/y for Perimeter. This appears far too
    aggressive and we would be surprised if it was accurate… particularly with
    management appearing to be bullish on Q2 results.
     Management doing what it can
    EIF immediately issued a press release outlining three plans to combat the attack,
    including: 1) rescheduling its Q2 release date from the normal second week of August
    up to the week of July 24th; 2) reiterating that 2017 results will meet analyst consensus
    expectations; and 3) potentially accelerating the share buyback beyond the current
    NCIB (which has been active) after the blackout period ends (began June 30). We think
    this is the only solution at this stage to defend themselves, and we look forward to
    seeing Q2 results in a few weeks that we anticipate will help prove that: a) the TTM
    elevated capex spend is achieving targeted returns; and b) the noisy and predominately
    1x factors that weighed on Q4/Q1 results have largely mitigated. Our unchanged $45
    target price implies ~7.5x 2018e EV/EBITDA, and we reiterate an Outperform rating.
  • A
    Anonymous
    Anonymous

    Did anyone else see $EIFZF report from http://thesubwaytrader.com/?s=EIFZF ? It had some interesting information. Investing day trading. Mitchell's laws of commitology: 1. any simple problem can be made insoluble if enough conferences are held to discuss it.

    The Subway Trader: Trading Stocks and Making Money
    Stock alerts from the The Subway Trader. Stock trading, making money and always looking for the next big money maker.
    thesubwaytrader.com
  • A
    Anonymous
    Anonymous
  • A
    Anonymous
    Anonymous
  • S
    Scott
    Scott
    At its 52 week high, at $36. And a very nice divvy on top of it. -Scott
  • S
    Scott
    Scott
    Up yesterday 8/17 by $1 and at open today, 8/18, up another $1. On very high volume. Very nice. Yielding near 6%. Maybe that is what is attracting investors. -Scott