Extendicare (TSE:EXE) Shares Down 8.3% – Here’s What Happened

Extendicare Inc. (TSE:EXE)’s stock price traded down 8.3% during trading on Friday . The stock traded as low as C$30.57 and last traded at C$31.35. Approximately 745,218 shares were traded during mid-day trading, an increase of 95% from the average daily volume of 383,111 shares. The stock had previously closed at C$34.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on EXE shares. TD increased their target price on shares of Extendicare from C$32.00 to C$39.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Desjardins set a C$34.50 price objective on shares of Extendicare and gave the stock a “buy” rating in a report on Wednesday, April 22nd. BMO Capital Markets lifted their target price on shares of Extendicare from C$30.00 to C$38.00 in a research note on Wednesday, May 13th. National Bank Financial boosted their target price on Extendicare from C$34.00 to C$40.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Canaccord Genuity Group upgraded Extendicare to a “strong-buy” rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat.com, Extendicare currently has an average rating of “Buy” and a consensus target price of C$32.56.

Extendicare Trading Down 7.2%

The business’s fifty day simple moving average is C$35.24 and its 200 day simple moving average is C$30.18. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 82.55. The stock has a market cap of C$3.01 billion, a P/E ratio of 23.36 and a beta of 1.59.

Extendicare (TSE:EXE) last announced its earnings results on Thursday, August 6th. The company reported C$0.32 earnings per share for the quarter. Extendicare had a net margin of 6.99% and a return on equity of 45.35%. The company had revenue of C$611.04 million during the quarter. As a group, analysts expect that Extendicare Inc. will post 0.6134729 EPS for the current year.

Extendicare Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be issued a dividend of $0.0441 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a yield of 1.7%. Extendicare’s dividend payout ratio is currently 37.24%.

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.