Extendicare (TSE:EXE) Stock Price Up 9.1% After Dividend Announcement

Extendicare Inc. (TSE:EXE - Get Free Report) was up 9.1% during trading on Friday after the company announced a dividend. The stock traded as high as C$12.64 and last traded at C$12.64. Approximately 107,344 shares were traded during trading, a decline of 31% from the average daily volume of 156,406 shares. The stock had previously closed at C$11.59.

The newly announced dividend which will be paid on Monday, March 17th. Stockholders of record on Monday, March 17th will be paid a $0.04 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, February 28th. Extendicare's dividend payout ratio (DPR) is currently 61.20%.

Analyst Upgrades and Downgrades

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

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Extendicare Stock Up 2.3 %

The company has a market capitalization of C$1.08 billion, a P/E ratio of 16.42 and a beta of 1.26. The company has a quick ratio of 0.98, a current ratio of 0.62 and a debt-to-equity ratio of 283.02. The firm has a fifty day simple moving average of C$10.74 and a 200-day simple moving average of C$9.79.

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.