Extendicare (TSE:EXE) Rating Increased to Buy at TD Securities

Key Points

• TD Securities upgraded Extendicare (TSE:EXE) from "hold" to "buy" and raised its price target to C$32 (from C$19), implying about a 12.3% upside from the current price.
• Several other brokers including CIBC, BMO and National Bank also raised targets recently, and the consensus analyst rating is Buy with an average target of C$28.64.
• Shares traded at C$28.50 mid-day with a market cap of C$2.69 billion, a PE of 25.61 and a 52-week range of C$12.12–C$29.44; the company reported C$0.29 EPS for the latest quarter.

Extendicare (TSE:EXE - Get Free Report) was upgraded by investment analysts at TD Securities from a "hold" rating to a "buy" rating in a report issued on Monday,BayStreet.CA reports. The firm presently has a C$32.00 price objective on the stock, up from their prior price objective of C$19.00. TD Securities' target price points to a potential upside of 12.28% from the stock's current price.

A number of other brokerages have also recently commented on EXE. Canadian Imperial Bank of Commerce upped their target price on shares of Extendicare from C$22.00 to C$32.00 in a report on Thursday. BMO Capital Markets raised their price target on Extendicare from C$24.00 to C$30.00 in a report on Monday, March 2nd. Finally, National Bank Financial boosted their price target 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. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of C$28.64.

Extendicare Stock Performance

Shares of EXE traded up C$0.74 during mid-day trading on Monday, reaching C$28.50. 236,770 shares of the company's stock were exchanged, compared to its average volume of 318,237. The business's fifty day simple moving average is C$25.33 and its 200-day simple moving average is C$21.13. The stock has a market capitalization of C$2.69 billion, a PE ratio of 25.61 and a beta of 1.18. Extendicare has a 52-week low of C$12.12 and a 52-week high of C$29.44. The company has a debt-to-equity ratio of 91.85, a current ratio of 1.37 and a quick ratio of 0.98.

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

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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