Extendicare (TSE:EXE) Shares Cross Below Two Hundred Day Moving Average - Here's Why

Key Points

• Extendicare shares fell below their 200-day moving average, trading as low as C$30.76 versus the C$31.46 average, and last changing hands at C$30.95.
• Despite the technical weakness, analysts remain positive: the stock has a consensus “Buy” rating and a C$37.00 price target, implying upside from its current level.
• Extendicare reported quarterly EPS of C$0.32 on C$611.04 million in revenue and recently paid a monthly dividend of C$0.0441 per share, representing a 1.7% annualized yield.

Extendicare Inc. (TSE:EXE - Get Free Report)'s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$31.46 and traded as low as C$30.76. Extendicare shares last traded at C$30.95, with a volume of 418,634 shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on EXE shares. Desjardins reduced their price objective on shares of Extendicare from C$40.00 to C$39.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. BMO Capital Markets boosted their price target on Extendicare from C$30.00 to C$38.00 in a report on Wednesday, May 13th. Canaccord Genuity Group raised their price objective on Extendicare from C$37.00 to C$44.00 and gave the stock a "buy" rating in a report on Monday, August 10th. National Bank Financial lifted their price objective on Extendicare from C$34.00 to C$40.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Finally, Royal Bank Of Canada upped their target price on Extendicare from C$38.00 to C$39.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat, Extendicare has a consensus rating of "Buy" and a consensus price target of C$37.00.

Extendicare Trading Down 1.1%

The firm's 50 day simple moving average is C$34.23 and its 200-day simple moving average is C$31.46. The company has a quick ratio of 0.98, a current ratio of 0.75 and a debt-to-equity ratio of 159.54. The company has a market capitalization of C$2.94 billion, a PE ratio of 23.70 and a beta of 1.36.

Extendicare (TSE:EXE - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported C$0.32 EPS for the quarter. The company had revenue of C$611.04 million for the quarter. Extendicare had a return on equity of 36.33% and a net margin of 6.13%. As a group, equities research analysts anticipate that Extendicare Inc. will post 0.6134729 EPS for the current year.

Extendicare Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 17th were given a dividend of $0.0441 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, July 31st. Extendicare's payout ratio is presently 39.23%.

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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