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

Shares of Extendicare Inc. (TSE:EXE) reached a new 52-week high on Thursday . The company traded as high as C$37.71 and last traded at C$37.44, with a volume of 65428 shares traded. The stock had previously closed at C$36.99.

Analyst Ratings Changes

A number of research firms recently issued reports on EXE. TD Securities raised Extendicare from a “hold” rating to a “buy” rating and raised their price target for the stock from C$19.00 to C$32.00 in a report on Monday, April 6th. Canaccord Genuity Group upgraded shares of Extendicare to a “strong-buy” rating in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce lifted their price target on shares of Extendicare from C$22.00 to C$32.00 in a research report on Thursday, April 2nd. BMO Capital Markets upped their price target on Extendicare from C$30.00 to C$38.00 in a report on Wednesday, May 13th. Finally, TD upped their target price on Extendicare from C$32.00 to C$39.00 and gave the company a “buy” rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$32.56.

Extendicare Price Performance

The company’s 50 day moving average price is C$34.02 and its 200-day moving average price is C$28.48. The company has a market capitalization of C$3.52 billion, a PE ratio of 27.28 and a beta of 1.58. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 82.55.

Extendicare (TSE:EXE) last released its quarterly earnings results on Thursday, May 7th. The company reported C$0.42 earnings per share for the quarter. Extendicare had a net margin of 6.99% and a return on equity of 45.35%. The business had revenue of C$465.22 million during the quarter. On average, sell-side analysts forecast that Extendicare Inc. will post 0.6134729 earnings per share for the current fiscal year.

Extendicare Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were paid a $0.0441 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, May 29th. Extendicare’s payout ratio is 37.24%.

About Extendicare

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.