Desjardins Forecasts Strong Price Appreciation for Extendicare (TSE:EXE) Stock

Extendicare (TSE:EXE) had its price target increased by Desjardins from C$39.00 to C$39.50 in a research report issued to clients and investors on Monday, BayStreet reports. The firm currently has a “buy” rating on the stock. Desjardins‘s price target would indicate a potential upside of 40.32% from the stock’s current price.

A number of other analysts have also weighed in on the company. Canaccord Genuity Group increased their price objective on Extendicare from C$37.00 to C$44.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Royal Bank Of Canada lifted their target price on shares of Extendicare from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Finally, National Bank Financial decreased their target price on shares of Extendicare from C$45.00 to C$40.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 21st. Seven research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$37.06.

Extendicare Trading Up 2.0%

Shares of TSE EXE traded up C$0.54 during midday trading on Monday, reaching C$28.15. The company had a trading volume of 295,200 shares, compared to its average volume of 446,132. The stock has a market cap of C$2.68 billion, a PE ratio of 21.55 and a beta of 1.31. Extendicare has a one year low of C$15.80 and a one year high of C$39.14. The firm’s fifty day moving average price is C$28.92 and its 200-day moving average price is C$30.02. The company has a quick ratio of 0.98, a current ratio of 0.75 and a debt-to-equity ratio of 159.54.

Extendicare (TSE:EXE) last posted its quarterly earnings results on Thursday, November 5th. The company reported C$0.41 earnings per share (EPS) for the quarter. Extendicare had a return on equity of 36.33% and a net margin of 6.13%. The business had revenue of C$627.84 million for the quarter. On average, equities research analysts anticipate that Extendicare will post 0.61 earnings per share for the current year.

About Extendicare

Extendicare is a leading provider of care and services for seniors across Canada, operating under the Extendicare, ParaMed, Extendicare Assist, and SGP Purchasing Network brands. We are committed to delivering quality care to meet the needs of the growing seniors’ population, inspired by our mission to provide people with the care they need, wherever they call home. We deliver more than 27 million hours of home health care services annually, operate a network of 97 long-term care homes (58 owned, 39 under management contracts), and provide group purchasing services to third parties representing approximately 161,700 beds across Canada.