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

Extendicare Inc. (TSE:EXE)’s share price 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 changed hands during mid-day 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 dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 3.79%. Extendicare’s dividend payout ratio is currently 61.20%.

Analyst Ratings Changes

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

Extendicare Stock Up 9.2 %

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 stock has a 50 day simple moving average of C$10.62 and a 200 day simple moving average of C$9.70. The stock has a market cap 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.