Canadian Tire Co., Limited (TSE:CTC) to Post Q3 2024 Earnings of $3.00 Per Share, Desjardins Forecasts

Canadian Tire Co., Limited (TSE:CTC) – Stock analysts at Desjardins dropped their Q3 2024 earnings per share estimates for shares of Canadian Tire in a research report issued to clients and investors on Monday, May 6th. Desjardins analyst C. Li now anticipates that the company will earn $3.00 per share for the quarter, down from their prior estimate of $3.31. The consensus estimate for Canadian Tire’s current full-year earnings is $11.18 per share. Desjardins also issued estimates for Canadian Tire’s Q4 2024 earnings at $4.87 EPS.

Canadian Tire Trading Up 2.1 %

Shares of CTC stock opened at C$240.01 on Wednesday. The company has a market cap of C$820.83 million, a PE ratio of 63.66, a price-to-earnings-growth ratio of 3.55 and a beta of 1.37. The company has a debt-to-equity ratio of 180.91, a current ratio of 1.77 and a quick ratio of 1.15. The stock’s 50 day simple moving average is C$244.35 and its two-hundred day simple moving average is C$259.23. Canadian Tire has a 1 year low of C$224.35 and a 1 year high of C$325.90.

Canadian Tire (TSE:CTC) last posted its earnings results on Thursday, February 15th. The company reported C$3.38 earnings per share for the quarter, missing analysts’ consensus estimates of C$4.81 by C($1.43). Canadian Tire had a return on equity of 5.03% and a net margin of 1.28%. The business had revenue of C$4.44 billion during the quarter, compared to the consensus estimate of C$4.84 billion.

Canadian Tire Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, April 30th will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Monday, April 29th. Canadian Tire’s dividend payout ratio (DPR) is 185.68%.

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.