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

Shares of Extendicare Inc. (TSE:EXE) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$20.17 and last traded at C$20.09, with a volume of 329320 shares trading hands. The stock had previously closed at C$19.76.

Analysts Set New Price Targets

Several brokerages have recently commented on EXE. BMO Capital Markets increased their price objective on Extendicare from C$15.00 to C$21.00 in a research note on Monday. National Bankshares upped their price target on Extendicare from C$16.10 to C$17.50 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Cibc World Mkts upgraded Extendicare to a “strong-buy” rating in a research note on Monday, September 22nd. CIBC lifted their price objective on shares of Extendicare from C$18.00 to C$22.00 in a report on Thursday, November 13th. Finally, TD Securities increased their target price on shares of Extendicare from C$15.00 to C$19.00 in a report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$18.10.

Extendicare Stock Up 1.7%

The stock has a 50-day moving average of C$15.43 and a 200 day moving average of C$14.25. The company has a market capitalization of C$1.68 billion, a PE ratio of 18.95 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.

Extendicare Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 17th were paid a dividend of $0.042 per share. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, October 31st. Extendicare’s payout ratio is presently 46.60%.

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.