Extendicare (TSE:EXE) Reaches New 12-Month High After Dividend Announcement

Shares of Extendicare Inc. (TSE:EXE - Get Free Report) hit a new 52-week high during trading 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 trading hands. The stock had previously closed at C$12.41.

The newly announced dividend which will be paid on Monday, March 17th. Investors of record on Monday, March 17th will be given a $0.04 dividend. This represents a $0.48 annualized dividend and a yield of 3.69%. The ex-dividend date is Friday, February 28th. Extendicare's dividend payout ratio (DPR) is presently 61.20%.

Analyst Upgrades and Downgrades

EXE has been the topic of a number of recent research reports. Royal Bank of Canada increased their price objective on Extendicare from C$9.50 to C$11.00 and gave the company a "sector perform" rating in a research report on Thursday, November 28th. BMO Capital Markets raised their price target on Extendicare from C$11.00 to C$13.50 in a report on Monday. TD Securities upped their target price on shares of Extendicare from C$10.50 to C$13.00 and gave the company a "hold" rating in a research report on Monday. Finally, Cormark upgraded shares of Extendicare to a "moderate buy" rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of C$11.50.

Extendicare Trading Down 0.5 %

The company has a market capitalization of C$1.09 billion, a P/E ratio of 16.59 and a beta of 1.26. The business has a 50 day moving average price of C$10.84 and a 200 day moving average price of C$9.86. The company has a current ratio of 0.62, a quick ratio of 0.98 and a debt-to-equity ratio of 283.02.

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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.