Extendicare (TSE:EXE) Shares Up 11.5% – Here’s What Happened

Extendicare Inc. (TSE:EXE) traded up 11.5% on Wednesday . The stock traded as high as C$17.78 and last traded at C$17.78. 194,920 shares traded hands during mid-day trading, an increase of 9% from the average session volume of 178,940 shares. The stock had previously closed at C$15.94.

Analyst Upgrades and Downgrades

EXE has been the topic of several analyst reports. National Bankshares increased their price objective on Extendicare from C$16.10 to C$17.50 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. National Bank Financial upgraded shares of Extendicare to a “strong-buy” rating in a research note on Wednesday, July 16th. CIBC set a C$18.00 target price on shares of Extendicare and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, Cibc World Mkts raised Extendicare to a “strong-buy” rating in a research report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Extendicare has a consensus rating of “Moderate Buy” and an average price target of C$15.20.

Extendicare Trading Up 12.0%

The business has a 50 day simple moving average of C$14.79 and a 200-day simple moving average of C$14.05. The stock has a market capitalization of C$1.50 billion, a price-to-earnings ratio of 18.51 and a beta of 0.90. 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 company also recently declared a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 17th will be issued a dividend of $0.042 per share. This represents a c) dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, October 31st. Extendicare’s dividend payout ratio (DPR) is presently 50.57%.

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.