Q2 2024 EPS Estimates for Canadian Tire Co., Limited Lowered by Desjardins (TSE:CTC)

Canadian Tire Co., Limited (TSE:CTC) – Equities researchers at Desjardins dropped their Q2 2024 EPS estimates for shares of Canadian Tire in a research note issued on Monday, August 5th. Desjardins analyst C. Li now forecasts that the company will post earnings per share of $2.30 for the quarter, down from their prior estimate of $2.42. The consensus estimate for Canadian Tire’s current full-year earnings is $11.95 per share. Desjardins also issued estimates for Canadian Tire’s FY2024 earnings at $11.43 EPS.

Canadian Tire (TSE:CTC) last announced its quarterly earnings results on Thursday, May 9th. The company reported C$1.38 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.79 by C$0.59. Canadian Tire had a net margin of 1.71% and a return on equity of 5.97%. The firm had revenue of C$3.52 billion for the quarter, compared to analyst estimates of C$3.51 billion.

Canadian Tire Stock Down 6.6 %

CTC stock opened at C$202.00 on Thursday. The firm has a 50-day moving average price of C$218.14 and a 200-day moving average price of C$237.99. The stock has a market capitalization of C$690.84 million, a P/E ratio of 40.08, a price-to-earnings-growth ratio of 3.55 and a beta of 1.37. Canadian Tire has a 12 month low of C$202.00 and a 12 month high of C$297.89. The company has a current ratio of 1.76, a quick ratio of 1.15 and a debt-to-equity ratio of 186.00.

Canadian Tire Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, October 31st will be paid a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Thursday, October 31st. Canadian Tire’s payout ratio is 138.89%.

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.