Extendicare Inc. (TSE:EXE) Given Average Rating of "Buy" by Brokerages

Key Points

• Analysts give Extendicare a consensus "Buy" rating (5 buys, 1 strong buy) with an average 12‑month price target of C$29.38 and multiple recent upgrades pushing targets as high as C$34.50.
• Shares recently traded at C$28.33 (one‑year high C$29.99) after reporting C$0.29 EPS for the quarter, and the company declared a monthly dividend of C$0.0441 per share (ex‑dividend April 30) implying a ~1.9% yield.

Shares of Extendicare Inc. (TSE:EXE - Get Free Report) have received a consensus recommendation of "Buy" from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$29.38.

Several research firms recently commented on EXE. TD Securities upgraded Extendicare from a "hold" rating to a "buy" rating and lifted their price target for the stock from C$19.00 to C$32.00 in a research report on Monday, April 6th. Desjardins set a C$34.50 price target on Extendicare and gave the stock a "buy" rating in a research report on Wednesday. BMO Capital Markets lifted their price target on Extendicare from C$24.00 to C$30.00 in a research report on Monday, March 2nd. National Bank Financial boosted their target price on Extendicare from C$24.50 to C$29.00 and gave the company an "outperform" rating in a research report on Thursday, February 5th. Finally, Canadian Imperial Bank of Commerce boosted their target price on Extendicare from C$22.00 to C$32.00 in a research report on Thursday, April 2nd.

Extendicare Stock Performance

Shares of TSE EXE traded up C$0.35 during midday trading on Wednesday, hitting C$28.33. 179,914 shares of the stock traded hands, compared to its average volume of 315,798. Extendicare has a one year low of C$12.12 and a one year high of C$29.99. The firm has a 50-day moving average of C$26.63 and a two-hundred day moving average of C$22.36. The firm has a market capitalization of C$2.68 billion, a P/E ratio of 25.45 and a beta of 1.18. The company has a debt-to-equity ratio of 91.85, a quick ratio of 0.98 and a current ratio of 1.37.

Extendicare (TSE:EXE - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported C$0.29 EPS for the quarter. Extendicare had a return on equity of 47.65% and a net margin of 5.82%.The company had revenue of C$462.03 million for the quarter. On average, equities analysts forecast that Extendicare will post 0.6134729 EPS for the current fiscal year.

Extendicare Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.0441 per share. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, April 30th. Extendicare's payout ratio is currently 44.92%.

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.

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