Extendicare (TSE:EXE) Sets New 1-Year High - Here's Why

Key Points

• Extendicare stock reached a new 52-week high, trading as high as C$30.81 and last at C$30.46 on Tuesday with about 87,965 shares traded.
• Multiple brokerages upgraded ratings and raised price targets—consensus is a Buy with an average target of C$29.38 and individual targets as high as C$34.50 from Desjardins and others.
• The company announced a monthly dividend of C$0.0441 (ex-dividend April 30, payable May 15), implying an annualized yield of roughly 1.8% and a payout ratio near 45%.

Extendicare Inc. (TSE:EXE - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$30.81 and last traded at C$30.46, with a volume of 87965 shares traded. The stock had previously closed at C$29.90.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EXE. National Bank Financial boosted their price target on Extendicare from C$24.50 to C$29.00 and gave the stock an "outperform" rating in a research report on Thursday, February 5th. BMO Capital Markets boosted their price target on Extendicare from C$24.00 to C$30.00 in a research report on Monday, March 2nd. Canadian Imperial Bank of Commerce boosted their price target on Extendicare from C$22.00 to C$32.00 in a research report on Thursday, April 2nd. TD Securities upgraded Extendicare from a "hold" rating to a "buy" rating and increased their price target for the company from C$19.00 to C$32.00 in a report on Monday, April 6th. Finally, Desjardins set a C$34.50 price target on Extendicare and gave the company a "buy" rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to MarketBeat, Extendicare has an average rating of "Buy" and a consensus price target of C$29.38.

Extendicare Stock Performance

The company has a debt-to-equity ratio of 91.85, a current ratio of 1.37 and a quick ratio of 0.98. The firm has a fifty day simple moving average of C$26.98 and a 200 day simple moving average of C$22.76. The company has a market cap of C$2.84 billion, a price-to-earnings ratio of 27.01 and a beta of 1.18.

Extendicare (TSE:EXE - Get Free Report) last announced its quarterly 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, sell-side analysts expect that Extendicare Inc. will post 0.6134729 earnings per share for the current fiscal year.

Extendicare Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 15th will be paid a $0.0441 dividend. The ex-dividend date is Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 1.8%. Extendicare's dividend payout ratio (DPR) is presently 44.92%.

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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