FY2024 EPS Estimates for Canadian Tire Lifted by Desjardins

Canadian Tire Co., Limited (TSE:CTC) – Equities research analysts at Desjardins increased their FY2024 earnings estimates for Canadian Tire in a research report issued to clients and investors on Friday, November 8th. Desjardins analyst C. Li now expects that the company will earn $12.65 per share for the year, up from their prior forecast of $12.05. The consensus estimate for Canadian Tire’s current full-year earnings is $13.70 per share. Desjardins also issued estimates for Canadian Tire’s FY2025 earnings at $13.35 EPS.

Separately, TD Securities raised 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 CTC stock opened at C$228.01 on Monday. The stock has a 50 day moving average of C$229.28 and a 200-day moving average of C$227.74. The firm has a market cap of C$779.79 million, a PE ratio of 33.29, a price-to-earnings-growth ratio of 0.49 and a beta of 1.33. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. Canadian Tire has a 12 month low of C$202.00 and a 12 month high of C$288.08.

Canadian Tire Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, January 31st will be given a dividend of $1.775 per share. This is a positive change from Canadian Tire’s previous quarterly dividend of $1.75. This represents a $7.10 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, January 31st. Canadian Tire’s payout ratio is 102.19%.

Canadian Tire Company Profile

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.