Extendicare (TSE:EXE) Issues Quarterly Earnings Results

Extendicare (TSE:EXE) announced its quarterly earnings results on Thursday. The company reported C$0.41 earnings per share (EPS) for the quarter, FiscalAI reports. Extendicare had a net margin of 6.13% and a return on equity of 36.33%. The business had revenue of C$627.84 million for the quarter.

Extendicare Trading Down 1.9%

Shares of TSE:EXE traded down C$0.53 on Thursday, hitting C$27.28. The company had a trading volume of 664,744 shares, compared to its average volume of 446,244. The firm’s 50-day simple moving average is C$29.00 and its two-hundred day simple moving average is C$30.00. Extendicare has a 1 year low of C$15.80 and a 1 year high of C$39.14. The company has a quick ratio of 0.98, a current ratio of 0.75 and a debt-to-equity ratio of 159.54. The firm has a market capitalization of C$2.59 billion, a price-to-earnings ratio of 20.89 and a beta of 1.31.

Extendicare Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 16th will be issued a $0.0441 dividend. The ex-dividend date is Friday, October 30th. This represents a $0.53 annualized dividend and a yield of 1.9%. Extendicare’s dividend payout ratio is 39.23%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Canaccord Genuity Group upped their price objective on shares of 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 raised their target price on Extendicare from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Desjardins reduced their price target on Extendicare from C$40.00 to C$39.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Finally, National Bank Financial reduced their price target on Extendicare from C$45.00 to C$40.00 and set an “outperform” rating on the stock in a report on Wednesday, October 21st. Seven research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$37.00.

Extendicare Company Profile

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.