Canadian Tire (TSE:CTC) Trading Down 2% – What’s Next?

Canadian Tire Co., Limited (TSE:CTC) dropped 2% during mid-day trading on Wednesday . The company traded as low as C$215.50 and last traded at C$215.50. Approximately 140 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 495 shares. The stock had previously closed at C$219.96.

Analyst Upgrades and Downgrades

Separately, Scotiabank raised Canadian Tire from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Canadian Tire has an average rating of “Hold”.

Canadian Tire Stock Down 1.2%

The business has a 50-day simple moving average of C$214.91 and a two-hundred day simple moving average of C$228.21. The company has a market cap of C$11.23 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 0.49 and a beta of 0.48. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 166.61.

Canadian Tire (TSE:CTC) last posted its quarterly earnings data on Thursday, February 19th. The company reported C$4.47 EPS for the quarter. The business had revenue of C$4.55 billion for the quarter. Canadian Tire had a return on equity of 8.99% and a net margin of 3.24%. As a group, equities analysts forecast that Canadian Tire Co., Limited will post 13.6961722 earnings per share for the current fiscal year.

About Canadian Tire

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.