Canadian Tire (OTCMKTS:CDNAF) Issues Earnings Results, Beats Expectations By $0.38 EPS

Canadian Tire (OTCMKTS:CDNAF) issued its quarterly earnings data on Thursday. The company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.38, Zacks reports. Canadian Tire had a return on equity of 10.84% and a net margin of 4.09%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.01 billion.

Canadian Tire Price Performance

Shares of Canadian Tire stock traded up $11.17 on Friday, hitting $155.17. 10 shares of the company traded hands, compared to its average volume of 19,269. Canadian Tire has a 12-month low of $102.83 and a 12-month high of $155.93. The company has a current ratio of 1.88, a quick ratio of 1.46 and a debt-to-equity ratio of 0.91. The company has a market cap of $8.16 billion and a P/E ratio of 20.61. The firm’s 50-day simple moving average is $139.49 and its 200 day simple moving average is $137.23.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of Canadian Tire in a report on Monday, August 10th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Canadian Tire in a report on Monday, July 20th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Canadian Tire in a report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $205.00.

Canadian Tire Company Profile

Canadian Tire Corporation is a Canadian retail company serving customers primarily across Canada. Founded in Toronto in 1922, it has grown from an automotive-focused retailer into a group of businesses spanning a range of consumer goods and services. Its Canadian Tire stores sell products for automotive care, hardware, home improvement, housewares, outdoor living and recreation. The company also operates retail banners including SportChek, which focuses on sporting goods and activewear, and Mark’s, known for workwear and casual apparel.