Extendicare (TSE:EXE) Hits New 12-Month High – Time to Buy?

Extendicare Inc. (TSE:EXE) shares reached a new 52-week high during trading on Wednesday . The company traded as high as C$37.59 and last traded at C$37.00, with a volume of 332848 shares trading hands. The stock had previously closed at C$37.30.

Analyst Ratings Changes

A number of brokerages recently issued reports on EXE. BMO Capital Markets raised their price target on Extendicare from C$30.00 to C$38.00 in a research note on Wednesday, May 13th. Canadian Imperial Bank of Commerce upped their price objective on Extendicare from C$22.00 to C$32.00 in a research report on Thursday, April 2nd. National Bank Financial increased their target price on Extendicare from C$34.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Canaccord Genuity Group upgraded Extendicare to a “strong-buy” rating in a research report on Monday, May 11th. Finally, Desjardins set a C$34.50 target price on shares of Extendicare and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$32.56.

Extendicare Stock Up 0.5%

The company has a debt-to-equity ratio of 82.55, a quick ratio of 0.98 and a current ratio of 1.44. The company has a fifty day simple moving average of C$33.47 and a two-hundred day simple moving average of C$28.04. The firm has a market capitalization of C$3.51 billion, a PE ratio of 27.26 and a beta of 1.58.

Extendicare (TSE:EXE) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.42 EPS for the quarter. The firm had revenue of C$465.22 million for the quarter. Extendicare had a return on equity of 45.35% and a net margin of 6.99%. Analysts forecast that Extendicare Inc. will post 0.6134729 EPS for the current fiscal year.

Extendicare Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were given a dividend of $0.0441 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 1.4%. Extendicare’s dividend payout ratio (DPR) is 37.24%.

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.