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Currency Exchange International ( (TSE:CXI) ) just unveiled an announcement.
Currency Exchange International announced that the Toronto Stock Exchange has approved an amendment to its share buyback program, allowing the company to increase the number of shares it can repurchase. This move reflects the board’s belief that the current market price may not fully reflect the shares’ long-term value, making the buyback an attractive use of funds. The amendment also includes changes to the automatic share purchase plan, enabling the purchase of up to 377,000 shares. This decision could potentially strengthen the company’s market position and offer value to shareholders.
The most recent analyst rating on (TSE:CXI) stock is a Hold with a C$22.00 price target. To see the full list of analyst forecasts on Currency Exchange International stock, see the TSE:CXI Stock Forecast page.
Spark’s Take on TSE:CXI Stock
According to Spark, TipRanks’ AI Analyst, TSE:CXI is a Neutral.
Currency Exchange International’s overall stock score reflects a solid financial foundation with strong profitability and a stable balance sheet. However, challenges in cash flow generation and revenue growth, along with mixed technical indicators, moderate its attractiveness. Positive corporate events and strategic restructuring efforts provide a favorable outlook, but the company must address operational cost challenges to sustain growth.
To see Spark’s full report on TSE:CXI stock, click here.
More about Currency Exchange International
Currency Exchange International is a company that provides comprehensive foreign exchange technology and processing services for banks, credit unions, businesses, and consumers in the United States and select clients globally. Its primary products and services include the exchange of foreign currencies, wire transfer payments, Global EFTs, and foreign cheque clearing. The company serves wholesale customers through proprietary FX software applications and consumers through retail branches and an e-commerce platform.
Average Trading Volume: 4,899
Technical Sentiment Signal: Sell
Current Market Cap: C$124.5M
Learn more about CXI stock on TipRanks’ Stock Analysis page.