Extendicare (TSE:EXE) Trading 9.1% Higher Following Dividend Announcement

Shares of Extendicare Inc. (TSE:EXE) rose 9.1% during mid-day 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. Investors of record on Monday, March 17th will be given a $0.04 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.48 annualized dividend and a yield of 3.79%. Extendicare’s dividend payout ratio is currently 61.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Cormark raised Extendicare to a “moderate buy” rating in a research report on Wednesday, February 19th. Royal Bank of Canada lifted 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 increased their target price on shares of Extendicare from C$9.50 to C$10.50 and gave the stock a “hold” rating in a report on Thursday, November 14th. Finally, BMO Capital Markets set a C$11.00 price target on shares of Extendicare and gave the company a “market perform” rating in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Extendicare presently has a consensus rating of “Hold” and an average price target of C$10.25.

Extendicare Stock Performance

The company has a fifty day moving average of C$10.62 and a two-hundred day moving average of C$9.70. The company has a debt-to-equity ratio of 283.02, a quick ratio of 0.98 and a current ratio of 0.62. The firm has a market capitalization of C$1.06 billion, a price-to-earnings ratio of 16.14 and a beta of 1.26.

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.