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

Shares of Extendicare Inc. (TSE:EXE) reached a new 52-week high during trading on Thursday . The stock traded as high as C$37.71 and last traded at C$37.44, with a volume of 65428 shares. The stock had previously closed at C$36.99.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EXE shares. Desjardins set a C$34.50 price objective on shares of Extendicare and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Canaccord Genuity Group raised shares of Extendicare to a “strong-buy” rating in a report on Monday, May 11th. BMO Capital Markets lifted their target price on shares of Extendicare from C$30.00 to C$38.00 in a research report on Wednesday, May 13th. TD Securities raised shares of Extendicare from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$19.00 to C$32.00 in a research note on Monday, April 6th. Finally, National Bank Financial upped their price target on shares of Extendicare from C$34.00 to C$40.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat, Extendicare has an average rating of “Buy” and an average price target of C$32.56.

Extendicare Stock Up 4.2%

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 50 day simple moving average of C$34.27 and a 200 day simple moving average of C$28.66. The firm has a market capitalization of C$3.68 billion, a PE ratio of 28.54 and a beta of 1.58.

Extendicare (TSE:EXE) last announced its quarterly earnings data on Thursday, May 7th. The company reported C$0.42 earnings per share for the quarter. The firm had revenue of C$465.22 million during the quarter. Extendicare had a return on equity of 45.35% and a net margin of 6.99%. As a group, sell-side analysts forecast that Extendicare Inc. will post 0.6134729 earnings per share for the current year.

Extendicare Announces Dividend

The company also recently declared a monthly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 15th were issued a dividend of $0.0441 per share. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, May 29th. Extendicare’s dividend payout ratio is currently 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.