Canoe EIT Income Fund (EIT.UN) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: 8.05%
• Average Volume (3M): 179.28K
• Price to Earnings (P/E): 4.2
• Beta (1Y): 0.63
• Revenue Growth: 108.74%
• EPS Growth: 413.87%
• Country: CA
• Employees: 98
• Sector: Real Estate
• Sector Strength: 79
• Industry: Asset Management - Income
• EPS (TTM): 3.57
• Shares Outstanding: 181,686,020
• 10 Day Avg. Volume: 120,574
• 30 Day Avg. Volume: 179,275
• PEG Ratio: 0.01
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.00
• Price to Cash Flow (P/CF): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

Canoe EIT Income Fund shows strong financial performance with robust revenue and profit growth, backed by a solid balance sheet. Valuation metrics indicate the stock is attractively priced with a low P/E ratio and high dividend yield. Technical analysis shows short-term upward momentum, although caution is advised due to high stochastic levels suggesting potential for a pullback. Cash flow management remains an area for improvement.

Canoe EIT Income Fund Business Overview & Revenue Model

Company Description

Canoe EIT Income Fund is a closed-ended balanced fund launched and managed by Canoe Financial LP. It is co-managed by Haber Trilix Advisors, LP. The fund invests in the public equity and fixed income markets of Canada and the United States. Its equity portion seeks to invest in the stocks of companies operating across diversified sectors. The fund primarily invests in growth and value stocks of mid-cap and large-cap companies. It invests in equity and debt securities of royalty and income trusts, corporations, partnerships, or other issuers. The fund was formerly known as EnerVest Diversified Income Trust. Canoe EIT Income Fund was formed on August 5, 1997 and is domiciled in Canada.

How the Company Makes Money

Canoe EIT Income Fund generates revenue through a combination of dividend income, interest income, and capital gains from its diversified portfolio of investments. The fund invests in a variety of income-generating securities, such as stocks, bonds, and other financial instruments, with the objective of providing consistent monthly distributions to its investors. The management team strategically selects and manages these investments to optimize returns, while actively monitoring market conditions to mitigate risks. Additionally, management fees and performance fees contribute to the fund's earnings, which are charged based on the fund's assets under management and overall performance. Strategic partnerships with financial advisors and institutions help enhance distribution and investor engagement, further supporting the fund's revenue generation.

Canoe EIT Income Fund Financial Statement Overview

Summary

The company's financial performance is mixed. The income statement shows declining revenue and profits, while the balance sheet is strong with low leverage and a solid equity base. However, cash flow statements reveal significant challenges with negative cash flows, indicating operational inefficiencies.

Income Statement

The company's income statement indicates a challenging period with declining revenue and profits. The gross profit margin stands at 83.5% for 2023, which is strong, but the net profit margin of 72.3% reflects a sharp decrease in net income. Revenue growth has been negative, showing a significant decline from the previous year. EBIT and EBITDA margins are also under pressure, indicating decreased operational efficiency.

Balance Sheet

The balance sheet is relatively strong, with a debt-to-equity ratio of 0.04, suggesting low leverage. The equity ratio is robust at 87.3%, indicating a solid equity base. Return on equity (ROE) is 5.4%, which shows room for improvement. The company has maintained stable total assets, but the decrease in cash and cash equivalents raises liquidity concerns.

Cash Flow

Cash flow analysis reveals significant challenges, with negative operating cash flow and free cash flow, indicating operational inefficiencies. The free cash flow to net income ratio is negative, showing that the company is not generating sufficient cash from its operations. The operating cash flow to net income ratio is also negative, highlighting the need for improved cash management.

Breakdown
Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
172.47M	278.12M	597.15M	80.52M	187.70M
	Gross Profit
144.04M	250.84M	576.64M	60.02M	168.17M
	EBIT
139.38M	255.37M	575.86M	59.57M	167.65M
	EBITDA
1.73M	0.00	0.00	0.00	0.00
	Net Income Common Stockholders
124.73M	255.37M	575.86M	59.57M	167.65M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
14.77M	98.23M	145.48M	43.76M	167.14M
	Total Assets
2.66B	2.51B	2.24B	1.55B	1.61B
	Total Debt
95.99M	98.09M	91.64M	92.23M	94.08M
	Net Debt
81.22M	-139.00K	-53.84M	48.48M	-73.06M
	Total Liabilities
338.30M	337.22M	327.44M	324.14M	324.84M
	Stockholders Equity
2.32B	2.17B	1.91B	1.23B	1.28B
Cash Flow		Free Cash Flow
-112.77M	-50.13M	-12.09M	-9.36M	-236.47M
	Operating Cash Flow
-112.77M	-50.13M	-12.09M	-9.36M	-236.47M
	Investing Cash Flow
0.00	-73.46M	-21.14M	-4.99M	-233.69M
	Financing Cash Flow
27.59M	8.68M	115.42M	-115.90M	48.54M

Canoe EIT Income Fund Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 15.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:EIT.UN, the sentiment is Positive. The current price of 15 is above the 20-day moving average (MA) of 14.75, above the 50-day MA of 14.80, and above the 200-day MA of 14.48, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 55.80 is Neutral, neither overbought nor oversold. The STOCH value of 87.89 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:EIT.UN.

Canoe EIT Income Fund Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EIT.UN	76 Outperform		4.20	25.07%	8.05%	108.74%	413.87%
POW	72 Outperform	C$32.88B	12.33	12.45%	4.45%	-7.62%	25.47%
BAM	69 Neutral	C$124.13B	42.17	20.07%	2.94%	27.17%	16.13%
GWO	66 Neutral	C$48.88B	12.53	15.52%	4.34%	-2.40%	42.24%
Sector *	60 Neutral	$2.82B	11.31	0.21%	8508.30%	6.32%	-13.73%
FSZ	58 Neutral	C$701.30M	28.23	8.22%	13.08%	5.64%	-57.76%

Canoe EIT Income Fund Corporate Events

Canoe EIT Income Fund Declares April 2025 Distribution

Canoe EIT Income Fund announced its April 2025 monthly distribution of $0.10 per unit, payable to unitholders on May 15, 2025. This announcement reflects the fund’s ongoing strategy to provide consistent returns to its investors, although the return of capital may impact the fund’s net asset value and future income generation.

Spark’s Take on TSE:EIT.UN Stock

According to Spark, TipRanks’ AI Analyst, TSE:EIT.UN is a Neutral.

Canoe EIT Income Fund’s overall score reflects a challenging financial performance, particularly in terms of declining revenue and negative cash flows. However, the strong balance sheet and attractive valuation, including a high dividend yield, provide some offsets. The technical analysis suggests potential for recovery, but the absence of earnings call data and notable corporate events leaves some uncertainty.

To see Spark’s full report on TSE:EIT.UN stock, click here.

Canoe EIT Income Fund Declares March 2025 Distribution

Canoe EIT Income Fund has announced its March 2025 monthly distribution of $0.10 per unit, payable to unitholders on April 15, 2025. This announcement reflects the fund’s ongoing commitment to providing regular income to its investors, although it includes a return of capital component that may affect the fund’s net asset value and future income generation capabilities.