Extendicare (TSE:EXE) Stock Breaks Below 200 Day Moving Average - Here's What Happened

Key Points

• Extendicare shares fell below their 200-day moving average, trading as low as C$31.13 versus the C$31.95 average, and last changing hands at C$31.22 on volume of 422,100 shares.
• Analysts remain broadly positive: seven analysts rate the stock a Buy, with an average price target of C$37.00. Recent targets range from C$39.00 to C$44.00.
• The company reported quarterly revenue of C$611.04 million and earnings of C$0.32 per share, while maintaining a monthly dividend of C$0.0441 per share—an annualized yield of approximately 1.7%.

Extendicare Inc. (TSE:EXE - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of C$31.95 and traded as low as C$31.13. Extendicare shares last traded at C$31.22, with a volume of 422,100 shares traded.

Analysts Set New Price Targets

Several research analysts have weighed in on EXE shares. Canaccord Genuity Group lifted their target price on Extendicare from C$37.00 to C$44.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Desjardins cut their price target on Extendicare from C$40.00 to C$39.00 and set a "buy" rating for the company in a research note on Monday, August 10th. Finally, Royal Bank Of Canada increased their price target on Extendicare from C$38.00 to C$39.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, Extendicare currently has an average rating of "Buy" and an average price target of C$37.00.

Extendicare Stock Performance

The stock's 50-day moving average price is C$32.62 and its 200-day moving average price is C$31.95. The company has a market capitalization of C$2.97 billion, a price-to-earnings ratio of 23.91 and a beta of 1.36. The company has a debt-to-equity ratio of 159.54, a quick ratio of 0.98 and a current ratio of 0.75.

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

Extendicare Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 17th were given a dividend of $0.0441 per share. The ex-dividend date was Friday, July 31st. This represents a $0.53 annualized dividend and a yield of 1.7%. Extendicare's dividend payout ratio is 39.23%.

Extendicare Company Profile

Extendicare is a leading provider of care and services for seniors across Canada, operating under the Extendicare, ParaMed, Extendicare Assist, and SGP Purchasing Network brands. We are committed to delivering quality care to meet the needs of the growing seniors' population, inspired by our mission to provide people with the care they need, wherever they call home. We deliver more than 27 million hours of home health care services annually, operate a network of 97 long-term care homes (58 owned, 39 under management contracts), and provide group purchasing services to third parties representing approximately 161,700 beds across Canada.

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