Extendicare (TSE:EXE) Sets New 52-Week High – Still a Buy?

Extendicare Inc. (TSE:EXE) hit a new 52-week high on Tuesday . The company traded as high as C$23.22 and last traded at C$22.89, with a volume of 72764 shares. The stock had previously closed at C$22.75.

Analysts Set New Price Targets

EXE has been the subject of several research analyst reports. Royal Bank Of Canada upgraded shares of Extendicare from a “hold” rating to a “moderate buy” rating and lifted their target price for the company from C$15.00 to C$25.00 in a research report on Thursday, December 4th. TD Securities lifted their price objective on shares of Extendicare from C$15.00 to C$19.00 in a report on Thursday, November 13th. Natl Bk Canada raised Extendicare to a “strong-buy” rating in a research note on Wednesday, December 3rd. Cormark raised their price target on Extendicare from C$25.00 to C$30.00 in a research report on Wednesday, December 3rd. Finally, CIBC lifted their price target on Extendicare from C$18.00 to C$22.00 in a research note on Thursday, November 13th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Extendicare currently has an average rating of “Buy” and an average price target of C$23.86.

Extendicare Stock Down 0.3%

The company’s fifty day simple moving average is C$21.81 and its 200 day simple moving average is C$16.97. The firm has a market capitalization of C$2.20 billion, a P/E ratio of 22.01 and a beta of 1.15. The company has a current ratio of 0.62, a quick ratio of 0.98 and a debt-to-equity ratio of 283.02.

Extendicare Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 17th were given a $0.042 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, October 31st. Extendicare’s payout ratio is currently 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.