Extendicare (TSE:EXE) Hits New 12-Month High – Here’s Why

Extendicare Inc. (TSE:EXE)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$30.81 and last traded at C$30.46, with a volume of 87965 shares traded. The stock had previously closed at C$29.90.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on EXE shares. BMO Capital Markets increased their target price on shares of Extendicare from C$24.00 to C$30.00 in a research report on Monday, March 2nd. National Bank Financial increased their target price on shares of Extendicare from C$24.50 to C$29.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. TD Securities upgraded shares of Extendicare from a “hold” rating to a “buy” rating and increased their target price for the stock from C$19.00 to C$32.00 in a research report on Monday, April 6th. Desjardins set a C$34.50 target price on shares of Extendicare and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, Canadian Imperial Bank of Commerce increased their target price on shares of Extendicare from C$22.00 to C$32.00 in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$29.38.

Extendicare Stock Down 0.7%

The company has a debt-to-equity ratio of 91.85, a quick ratio of 0.98 and a current ratio of 1.37. The stock has a market cap of C$2.83 billion, a price-to-earnings ratio of 26.94 and a beta of 1.18. The firm’s 50-day simple moving average is C$27.30 and its two-hundred day simple moving average is C$22.97.

Extendicare (TSE:EXE) last posted its quarterly earnings data on Thursday, February 26th. The company reported C$0.29 earnings per share for the quarter. The firm had revenue of C$462.03 million during the quarter. Extendicare had a net margin of 5.82% and a return on equity of 47.65%. On average, sell-side analysts expect that Extendicare Inc. will post 0.6134729 EPS for the current fiscal year.

Extendicare Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 15th will be given a $0.0441 dividend. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, April 30th. Extendicare’s dividend payout ratio (DPR) is presently 44.92%.

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.