Extendicare Inc. (TSE:EXE) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Extendicare has a consensus “Buy” rating from eight brokerages, including six buy and two strong-buy recommendations. The average 12-month price target is C$32.56, although several firms recently raised their targets to between C$38 and C$40.
• Shares opened at C$36.40, near the upper end of their C$12.12–C$39.14 12-month range. The company has a C$3.45 billion market capitalization and reported quarterly EPS of C$0.42 on revenue of C$465.22 million.
• Extendicare declared a monthly dividend of C$0.0441 per share, representing an annualized yield of approximately 1.5% and a payout ratio of 37.24%.

Extendicare Inc. (TSE:EXE - Get Free Report) has been given a consensus rating of "Buy" by the eight brokerages that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$32.56.

Several research firms have recently issued reports on EXE. BMO Capital Markets upped their price objective on Extendicare from C$30.00 to C$38.00 in a research note on Wednesday, May 13th. TD lifted their target price on shares of Extendicare from C$32.00 to C$39.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. National Bank Financial upped their price target on shares of Extendicare from C$34.00 to C$40.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Canadian Imperial Bank of Commerce raised their price target on shares of Extendicare from C$22.00 to C$32.00 in a research note on Thursday, April 2nd. Finally, TD Securities upgraded shares of 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 report on Monday, April 6th.

Extendicare Price Performance

Shares of EXE opened at C$36.40 on Friday. 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 stock has a market cap of C$3.45 billion, a PE ratio of 26.78 and a beta of 1.58. Extendicare has a 12-month low of C$12.12 and a 12-month high of C$39.14. The business has a 50-day simple moving average of C$35.07 and a two-hundred day simple moving average of C$29.73.

Extendicare (TSE:EXE - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.42 EPS for the quarter. The firm had revenue of C$465.22 million for the quarter. Extendicare had a return on equity of 45.35% and a net margin of 6.99%. Analysts anticipate that Extendicare will post 0.6134729 earnings per share for the current fiscal year.

Extendicare Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be issued a $0.0441 dividend. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, July 31st. Extendicare's dividend payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.