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Currency Exchange International ( (TSE:CXI) ) has issued an update.
Currency Exchange International, Corp. has announced the renewal of its share buyback program and Automatic Securities Purchase Plan, allowing for the repurchase and cancellation of up to 359,617 common shares, representing 10% of its public float. The initiative, approved by the Toronto Stock Exchange, is seen as a strategic move to enhance shareholder value and reflects the company’s belief that its market price may not fully reflect its underlying value. The program will be funded through available cash and aims to protect and enhance shareholder value amid market volatility.
The most recent analyst rating on (TSE:CXI) stock is a Hold with a C$25.00 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 strong financial performance with robust profitability and a stable balance sheet. However, technical indicators suggest the stock is overbought, and valuation metrics indicate limited upside potential. The absence of a dividend yield further impacts the score.
To see Spark’s full report on TSE:CXI stock, click here.
More about Currency Exchange International
Currency Exchange International, Corp. provides comprehensive foreign exchange technology and processing services for banks, credit unions, businesses, and consumers in the United States and select clients globally. Their primary products and services include foreign currency exchange, 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: 2,986
Technical Sentiment Signal: Buy
Current Market Cap: C$136.1M
For an in-depth examination of CXI stock, go to TipRanks’ Overview page.