Extendicare (TSE:EXE) Reaches New 12-Month High on Analyst Upgrade

Extendicare Inc. (TSE:EXE)’s stock price hit a new 52-week high during mid-day trading on Thursday after BMO Capital Markets upgraded the stock from a hold rating to an outperform rating. BMO Capital Markets now has a C$24.00 price target on the stock, up from their previous price target of C$21.00. Extendicare traded as high as C$22.16 and last traded at C$22.08, with a volume of 159077 shares changing hands. The stock had previously closed at C$20.99.

A number of other brokerages have also issued reports on EXE. TD Securities increased their target price on Extendicare from C$15.00 to C$19.00 in a research report on Thursday, November 13th. Canaccord Genuity Group upped their price objective on shares of Extendicare from C$20.00 to C$22.50 in a research report on Thursday. Cibc World Mkts upgraded shares of Extendicare to a “strong-buy” rating in a research report on Monday, September 22nd. Royal Bank Of Canada raised shares of Extendicare from a “hold” rating to a “moderate buy” rating and boosted their target price for the stock from C$15.00 to C$25.00 in a research note on Thursday. Finally, Cormark upped their price target on shares of Extendicare from C$25.00 to C$30.00 in a research report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$23.86.

Extendicare Trading Up 1.1%

The stock has a market capitalization of C$1.87 billion, a PE ratio of 21.07 and a beta of 1.11. The company’s 50 day moving average price is C$17.28 and its two-hundred day moving average price is C$14.83. The company has a debt-to-equity ratio of 283.02, a current ratio of 0.62 and a quick ratio of 0.98.

Extendicare Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 17th were given a $0.042 dividend. The ex-dividend date was Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. Extendicare’s dividend payout ratio is 46.60%.

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.