Extendicare (TSE:EXE) Hits New 1-Year High – Here’s Why

Shares of Extendicare Inc. (TSE:EXE) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$36.05 and last traded at C$35.95, with a volume of 124152 shares. The stock had previously closed at C$35.07.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EXE shares. BMO Capital Markets boosted their price objective on Extendicare from C$30.00 to C$38.00 in a research report on Wednesday, May 13th. Canadian Imperial Bank of Commerce increased their target price on Extendicare from C$22.00 to C$32.00 in a research report on Thursday, April 2nd. TD increased their target price on Extendicare from C$32.00 to C$39.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. TD Securities raised Extendicare from a “hold” rating to a “buy” rating and lifted their target price for the company from C$19.00 to C$32.00 in a research note on Monday, April 6th. Finally, National Bank Financial boosted their price target on Extendicare from C$34.00 to C$40.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Extendicare currently has an average rating of “Buy” and an average target price of C$32.56.

Extendicare Stock Up 2.2%

The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 82.55. The company has a market capitalization of C$3.54 billion, a PE ratio of 27.49 and a beta of 1.57. The company’s 50 day moving average is C$32.88 and its two-hundred day moving average is C$27.59.

Extendicare (TSE:EXE) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.42 EPS 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 for the quarter. On average, analysts anticipate that Extendicare Inc. will post 0.6134729 earnings per share for the current year.

Extendicare Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were given 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 currently 37.24%.

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.