Q4 Earnings Estimate for Canadian Tire Issued By Desjardins

Canadian Tire Co., Limited (TSE:CTC) – Equities researchers at Desjardins lifted their Q4 2024 EPS estimates for shares of Canadian Tire in a research note issued on Tuesday, November 5th. Desjardins analyst C. Li now forecasts that the company will earn $4.26 per share for the quarter, up from their prior forecast of $4.20. The consensus estimate for Canadian Tire’s current full-year earnings is $13.70 per share.

Separately, TD Securities upgraded Canadian Tire from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 9th.

Canadian Tire Price Performance

Shares of TSE:CTC opened at C$228.01 on Friday. The stock has a market cap of C$779.79 million, a price-to-earnings ratio of 33.29, a PEG ratio of 0.49 and a beta of 1.33. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15. Canadian Tire has a 12 month low of C$202.00 and a 12 month high of C$288.08. The stock’s 50 day moving average price is C$229.28 and its 200 day moving average price is C$227.90.

Canadian Tire (TSE:CTC) last issued its quarterly earnings results on Thursday, August 8th. The company reported C$3.56 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.46 by C$1.10. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. The company had revenue of C$4.13 billion during the quarter, compared to analyst estimates of C$4.07 billion.

Canadian Tire Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, January 31st will be issued a $1.775 dividend. This represents a $7.10 dividend on an annualized basis and a yield of 3.11%. This is an increase from Canadian Tire’s previous quarterly dividend of $1.75. The ex-dividend date is Friday, January 31st. Canadian Tire’s dividend payout ratio is presently 102.19%.

About Canadian Tire

Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. It operates in three segments: Retail, CT REIT, and Financial Services. The Retail segment retails automotive maintenance products and accessories, parts, and tires, as well as automotive services and roadside assistance; electrical, hardware, home environment, paint, plumbing, and tool products; cleaning, food & drink, home décor, home essentials, home organization, kitchen, and pet care products; camping, exercise, hockey, hunting, fishing, seasonal recreation, and team sports and golf products; and backyard living, backyard fun, cycling, gardening, outdoor tools, seasonal, and toy products.