Extendicare (TSE:EXE) Sets New 52-Week High Following Analyst Upgrade

Shares of Extendicare Inc. (TSE:EXE) hit a new 52-week high during trading on Thursday after CIBC raised their price target on the stock from C$18.00 to C$22.00. The stock traded as high as C$18.47 and last traded at C$18.44, with a volume of 672807 shares. The stock had previously closed at C$15.94.

Other equities analysts have also issued research reports about the company. Cibc World Mkts upgraded Extendicare to a “strong-buy” rating in a research note on Monday, September 22nd. National Bank Financial upgraded shares of Extendicare to a “strong-buy” rating in a research note on Wednesday, July 16th. National Bankshares boosted their price objective on shares of Extendicare from C$16.10 to C$17.50 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Finally, TD Securities boosted their price target on Extendicare from C$15.00 to C$19.00 in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$16.80.

Extendicare Stock Up 2.4%

The stock has a market capitalization of C$1.65 billion, a price-to-earnings ratio of 18.53 and a beta of 0.90. The company has a quick ratio of 0.98, a current ratio of 0.62 and a debt-to-equity ratio of 283.02. The stock has a 50 day moving average price of C$15.16 and a 200 day moving average price of C$14.16.

Extendicare Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 17th will be paid a dividend of $0.042 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 2.6%. Extendicare’s dividend payout ratio (DPR) is presently 46.60%.

About Extendicare

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.