Extendicare (TSE:EXE) Reaches New 52-Week High – Here’s Why

Extendicare Inc. (TSE:EXE)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as C$23.22 and last traded at C$22.89, with a volume of 72764 shares changing hands. The stock had previously closed at C$22.75.

Analysts Set New Price Targets

Several brokerages have commented on EXE. Canaccord Genuity Group upped their price objective on shares of Extendicare from C$20.00 to C$22.50 in a report on Thursday, December 4th. Natl Bk Canada upgraded shares of Extendicare to a “strong-buy” rating in a research report on Wednesday, December 3rd. Royal Bank Of Canada upgraded shares of Extendicare from a “hold” rating to a “moderate buy” rating and raised their price objective for the stock from C$15.00 to C$25.00 in a report on Thursday, December 4th. CIBC lifted their price objective on Extendicare from C$18.00 to C$22.00 in a research report on Thursday, November 13th. Finally, Cormark upped their target price on Extendicare from C$25.00 to C$30.00 in a report on Wednesday, December 3rd. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Extendicare currently has a consensus rating of “Buy” and an average target price of C$23.86.

Extendicare Trading Up 0.2%

The company has a debt-to-equity ratio of 283.02, a quick ratio of 0.98 and a current ratio of 0.62. The company has a market cap of C$2.15 billion, a P/E ratio of 21.50 and a beta of 1.15. The stock has a 50-day moving average of C$21.70 and a two-hundred day moving average of C$16.86.

Extendicare Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 17th were issued a dividend of $0.042 per share. The ex-dividend date was Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 2.2%. Extendicare’s dividend payout ratio (DPR) is presently 46.60%.

Extendicare Company Profile

Extendicare Inc, operating solely in Canada, is the largest private-sector owner and operator of long-term care (LTC”) homes and one of the largest private-sector providers of publicly funded home health care services.