Extendicare (TSE:EXE) Hits New 12-Month High - Here's Why

Key Points

• Extendicare shares hit a new 52-week high, trading as high as C$37.71 and last changing hands at C$37.44. The move came on volume of 65,428 shares.
• Analyst sentiment has turned increasingly positive, with multiple firms raising ratings and price targets. The stock now carries an average Buy rating and a consensus target price of C$32.56.
• The company reported C$0.42 EPS on revenue of C$465.22 million in its latest quarter and also paid a monthly dividend of C$0.0441 per share, yielding about 1.4% annually.

Extendicare Inc. (TSE:EXE - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The company traded as high as C$37.71 and last traded at C$37.44, with a volume of 65428 shares trading hands. The stock had previously closed at C$36.99.

Wall Street Analyst Weigh In

EXE has been the subject of several analyst reports. Canaccord Genuity Group raised Extendicare to a "strong-buy" rating in a research note on Monday, May 11th. BMO Capital Markets increased their target price on shares of Extendicare from C$30.00 to C$38.00 in a research note on Wednesday, May 13th. National Bank Financial lifted their price target on shares of Extendicare from C$34.00 to C$40.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 27th. TD Securities raised Extendicare from a "hold" rating to a "buy" rating and raised their price target for the stock from C$19.00 to C$32.00 in a research note on Monday, April 6th. Finally, Desjardins set a C$34.50 price objective on Extendicare and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$32.56.

Extendicare Trading Up 0.2%

The company's 50 day simple moving average is C$34.02 and its two-hundred day simple moving average is C$28.48. The company has a market capitalization of C$3.52 billion, a price-to-earnings ratio of 27.28 and a beta of 1.58. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 82.55.

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

Extendicare Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were paid a dividend of $0.0441 per share. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, May 29th. Extendicare's payout ratio is 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.

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