Canadian Tire (TSE:CTC.A) Announces Quarterly Earnings Results

Canadian Tire (TSE:CTC.A) posted its earnings results on Thursday. The company reported C$2.02 EPS for the quarter, FiscalAI reports. The firm had revenue of C$3.57 billion for the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%.

Canadian Tire Stock Performance

Shares of TSE:CTC.A traded down C$1.83 during midday trading on Friday, hitting C$173.12. The company’s stock had a trading volume of 51,782 shares, compared to its average volume of 246,473. The stock has a market capitalization of C$9.12 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 0.35 and a beta of 1.17. The stock’s 50 day simple moving average is C$189.09 and its 200 day simple moving average is C$179.28. Canadian Tire has a fifty-two week low of C$158.18 and a fifty-two week high of C$202.46. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BMO Capital Markets increased their target price on shares of Canadian Tire from C$180.00 to C$194.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. Desjardins increased their target price on shares of Canadian Tire from C$190.00 to C$203.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. TD Securities increased their target price on shares of Canadian Tire from C$194.00 to C$205.00 and gave the stock a “hold” rating in a research report on Friday, February 20th. Royal Bank Of Canada raised their price target on Canadian Tire from C$211.00 to C$220.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Finally, Scotiabank raised Canadian Tire from an “underperform” rating to a “sector perform” rating and raised their price target for the company from C$160.00 to C$180.00 in a research report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$200.29.

Canadian Tire Company Profile

Canadian Tire Corporation, Limited, (TSX: CTC.A) (TSX: CTC) or ‘CTC’, is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions. Party City, PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes Mark’s, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store catering to elite players; and SportChek, Hockey Experts, Sports Experts and Atmosphere, which offer the best active wear brands.