Extendicare (TSE:EXE) Stock Price Down 8.3% – What’s Next?

Extendicare Inc. (TSE:EXE) dropped 8.3% during mid-day trading on Friday . The company traded as low as C$30.57 and last traded at C$31.35. 745,218 shares changed hands 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 research firms recently weighed in on EXE. Canaccord Genuity Group raised shares of Extendicare to a “strong-buy” rating in a research report on Monday, May 11th. National Bank Financial raised their price objective on Extendicare from C$34.00 to C$40.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. TD lifted their target price on Extendicare from C$32.00 to C$39.00 and gave the company a “buy” rating in a research report on Monday, May 11th. BMO Capital Markets boosted their price target on Extendicare from C$30.00 to C$38.00 in a research report on Wednesday, May 13th. 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 research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$32.56.

Extendicare Price Performance

The business has a fifty day moving average of C$35.24 and a two-hundred day moving average of C$30.19. 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 firm has a market capitalization of C$3.08 billion, a price-to-earnings ratio of 23.87 and a beta of 1.59.

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

Extendicare Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 17th will be paid a dividend of $0.0441 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, July 31st. Extendicare’s dividend payout ratio (DPR) 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.