Extendicare (TSE:EXE) Sets New 1-Year High on Analyst Upgrade

Extendicare Inc. (TSE:EXE)’s share price hit a new 52-week high during mid-day trading on Thursday after Natl Bk Canada upgraded the stock to a strong-buy rating. The company traded as high as C$22.16 and last traded at C$22.08, with a volume of 159077 shares traded. The stock had previously closed at C$20.99.

EXE has been the topic of several other reports. TD Securities upped their price objective on shares of Extendicare from C$15.00 to C$19.00 in a research note on Thursday, November 13th. National Bankshares increased their price target on Extendicare from C$21.50 to C$24.50 and gave the stock an “outperform” rating in a research report on Wednesday. Cormark raised their price target on Extendicare from C$25.00 to C$30.00 in a report on Wednesday. CIBC boosted their price objective on Extendicare from C$18.00 to C$22.00 in a research note on Thursday, November 13th. Finally, BMO Capital Markets raised their target price on Extendicare from C$15.00 to C$21.00 in a research note on Monday, November 17th. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$23.30.

Extendicare Stock Performance

The company has a current ratio of 0.62, a quick ratio of 0.98 and a debt-to-equity ratio of 283.02. The company has a market cap of C$1.85 billion, a price-to-earnings ratio of 20.83 and a beta of 0.90. The stock has a 50 day moving average price of C$16.98 and a two-hundred day moving average price of C$14.73.

Extendicare Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 17th were paid a $0.042 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. Extendicare’s dividend payout ratio is 46.60%.

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.