Canadian Tire (TSE:CTC.A) Posts Earnings Results

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

Canadian Tire Trading Down 4.1%

TSE:CTC.A traded down C$7.44 on Thursday, reaching C$174.95. The company’s stock had a trading volume of 265,583 shares, compared to its average volume of 248,624. Canadian Tire has a 1-year low of C$158.18 and a 1-year 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. The firm has a market cap of C$9.22 billion, a PE ratio of 18.09, a PEG ratio of 0.35 and a beta of 1.17. The business’s 50-day moving average price is C$189.47 and its two-hundred day moving average price is C$179.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Scotiabank upgraded Canadian Tire from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from C$160.00 to C$180.00 in a research report on Friday, February 20th. BMO Capital Markets upped their price objective on Canadian Tire from C$180.00 to C$194.00 and gave the company a “market perform” rating in a report on Friday, February 20th. Desjardins upped their price objective on Canadian Tire from C$190.00 to C$203.00 and gave the company a “buy” rating in a report on Friday, February 20th. TD Securities upped their price objective on Canadian Tire from C$194.00 to C$205.00 and gave the company a “hold” rating in a report on Friday, February 20th. Finally, National Bank Financial upped their price objective on Canadian Tire from C$201.00 to C$211.00 and gave the company a “sector perform” rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Canadian Tire has an average rating of “Hold” and a consensus target price of C$200.29.

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.