Extendicare (TSE:EXE) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Shares of Extendicare Inc. (TSE:EXE) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of C$28.84 and traded as high as C$28.98. Extendicare shares last traded at C$28.95, with a volume of 399,000 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EXE shares. Royal Bank Of Canada raised their price target on shares of Extendicare from C$38.00 to C$39.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Canaccord Genuity Group upped their price objective on Extendicare from C$37.00 to C$44.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Desjardins increased their target price on Extendicare from C$39.00 to C$39.50 and gave the company a “buy” rating in a research note on Monday. Finally, National Bank Financial reduced their target price on Extendicare from C$45.00 to C$40.00 and set an “outperform” rating for the company in a report on Wednesday, October 21st. Seven research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$37.06.

Extendicare Stock Performance

The business’s 50-day moving average price is C$28.85 and its 200-day moving average price is C$30.16. The company has a debt-to-equity ratio of 137.74, a quick ratio of 0.98 and a current ratio of 0.68. The stock has a market cap of C$2.86 billion, a P/E ratio of 21.85 and a beta of 1.31.

Extendicare (TSE:EXE) last posted its quarterly earnings data on Thursday, November 5th. The company reported C$0.41 EPS for the quarter. Extendicare had a return on equity of 32.84% and a net margin of 6.06%. The firm had revenue of C$627.84 million for the quarter. As a group, sell-side analysts expect that Extendicare Inc. will post 0.61 earnings per share for the current fiscal year.

Extendicare Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 16th will be given a dividend of $0.0441 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, October 30th. Extendicare’s dividend payout ratio is currently 37.67%.

About Extendicare

Extendicare is a leading provider of care and services for seniors across Canada, operating under the Extendicare, ParaMed, Extendicare Assist, and SGP Purchasing Network brands. We are committed to delivering quality care to meet the needs of the growing seniors’ population, inspired by our mission to provide people with the care they need, wherever they call home. We deliver more than 27 million hours of home health care services annually, operate a network of 97 long-term care homes (58 owned, 39 under management contracts), and provide group purchasing services to third parties representing approximately 161,700 beds across Canada.