Extendicare (TSE:EXE) Sets New 1-Year High Following Dividend Announcement

Extendicare Inc. (TSE:EXE)’s stock price hit a new 52-week high on Monday following a dividend announcement from the company. The stock traded as high as C$12.90 and last traded at C$12.88, with a volume of 81017 shares changing hands. The stock had previously closed at C$12.41.

The newly announced dividend which will be paid on Monday, March 17th. Stockholders of record on Monday, March 17th will be issued a $0.04 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, February 28th. Extendicare’s dividend payout ratio (DPR) is currently 61.20%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EXE. Royal Bank of Canada upped their price objective on shares of Extendicare from C$9.50 to C$11.00 and gave the company a “sector perform” rating in a report on Thursday, November 28th. TD Securities upped their price objective on shares of Extendicare from C$10.50 to C$13.00 and gave the company a “hold” rating in a report on Monday. Cormark raised shares of Extendicare to a “moderate buy” rating in a report on Wednesday, February 19th. Finally, BMO Capital Markets upped their price objective on shares of Extendicare from C$11.00 to C$13.50 in a report on Monday. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$11.50.

Extendicare Price Performance

The stock’s fifty day moving average is C$10.69 and its 200-day moving average is C$9.76. The stock has a market capitalization of C$1.05 billion, a PE ratio of 16.05 and a beta of 1.26. The company has a debt-to-equity ratio of 283.02, a current ratio of 0.62 and a quick ratio of 0.98.

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.