Yesterday, Currency Exchange International reported its Q3, 2016 results. The company earned (U.S.) $1.5-million on revenue of $7.7-million, a topline that was up 15 per cent over the $6.7-million the company reported in the same period last year.
Steuart says things should start to get really interesting for the company later this year.
“Overall an encouraging quarter as CXI continues to produce positive momentum on revenue growth. Management continues to add to the client roster. CXI added 342 new wholesale clients (1,400 new transacting locations) in the quarter. With a sizeable Canadian institution added subsequent to quarter end (another ~800 branches), the pipeline remains strong ahead of the bank license approval. As expected, there was no formal update on the status of the bank license disclosed in the financial statements. However, we continue to forecast a C2016 license approval, the realization of which should allow management to capitalize on its assumed significant pipeline of wholesale clients.”
In a research update to clients today, Steuart maintained his “Buy” rating on Currency Exchange International.
Following news of a restructuring, Roth MKM analyst George Kelly has chopped his price target on Peloton (Peloton Stock Quote,… [Read More]
Ahead of the company's first quarter results, Beacon analyst Russell Stanley thinks Ascend Wellness (Ascend Wellness Stock Quote, Chart, News,… [Read More]
Following the company's fourth quarter results, Paradigm Capital analyst Daniel Rosenberg has cut his price target on Snipp Interactive (Snipp… [Read More]
A major development came down the pipe this week at the U.S. Drug Enforcement Agency has reportedly decided to reschedule… [Read More]
Following the company's first quarter results, Roth MKM analyst Chip Moore remains neutral on Generac Holdings (Generac Holdings Stock Quote,… [Read More]
The stock has climbed slowly but surely since last October. But is there still money to be made on Bombardier?… [Read More]