Desjardins Forecasts Strong Price Appreciation for Extendicare (TSE:EXE) Stock

Extendicare (TSE:EXE) had its target price lifted by research analysts at Desjardins from C$39.00 to C$39.50 in a report issued on Monday, BayStreet reports. The brokerage presently has a “buy” rating on the stock. Desjardins‘s target price would indicate a potential upside of 40.32% from the stock’s previous close.

A number of other equities analysts have also commented on EXE. Canaccord Genuity Group increased their price target on shares of 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 dropped their price objective on shares of Extendicare from C$45.00 to C$40.00 and set an “outperform” rating for the company in a report on Wednesday, October 21st. Finally, Royal Bank Of Canada upped their target price on shares of Extendicare from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$37.06.

Extendicare Price Performance

Shares of TSE EXE traded up C$0.54 during midday trading on Monday, hitting C$28.15. 295,200 shares of the company’s stock were exchanged, compared to its average volume of 446,132. The company has a current ratio of 0.75, a quick ratio of 0.98 and a debt-to-equity ratio of 159.54. The business’s fifty day moving average price is C$28.92 and its two-hundred day moving average price is C$30.02. The company has a market cap of C$2.68 billion, a price-to-earnings ratio of 21.55 and a beta of 1.31. Extendicare has a 12-month low of C$15.80 and a 12-month high of C$39.14.

Extendicare (TSE:EXE) last announced its earnings results on Thursday, November 5th. The company reported C$0.41 earnings per share for the quarter. Extendicare had a net margin of 6.13% and a return on equity of 36.33%. The business had revenue of C$627.84 million for the quarter. As a group, research analysts forecast that Extendicare will post 0.61 EPS for the current fiscal year.

About Extendicare

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.