National Bank Financial Equities Analysts Reduce Earnings Estimates for Canadian Tire Co., Limited (TSE:CTC)

Canadian Tire Co., Limited (TSE:CTC – Get Rating) – Stock analysts at National Bank Financial lowered their Q2 2022 earnings per share estimates for shares of Canadian Tire in a research note issued to investors on Thursday, May 12th. National Bank Financial analyst V. Shreedhar now forecasts that the company will post earnings per share of $3.52 for the quarter, down from their prior forecast of $3.57. National Bank Financial also issued estimates for Canadian Tire’s Q3 2022 earnings at $3.88 EPS, Q4 2022 earnings at $8.32 EPS, Q2 2023 earnings at $3.76 EPS, Q3 2023 earnings at $4.16 EPS and Q4 2023 earnings at $8.32 EPS.

Canadian Tire (TSE:CTC – Get Rating) last issued its quarterly earnings data on Thursday, February 17th. The company reported C$8.42 EPS for the quarter, topping the consensus estimate of C$6.47 by C$1.95. The company had revenue of C$5.14 billion during the quarter, compared to analysts’ expectations of C$4.68 billion.

Shares of TSE CTC opened at C$416.36 on Monday. The stock has a fifty day simple moving average of C$364.61 and a two-hundred day simple moving average of C$336.01. Canadian Tire has a 1-year low of C$238.00 and a 1-year high of C$425.00. The firm has a market cap of C$25.04 billion and a price-to-earnings ratio of 22.65. The company has a current ratio of 1.72, a quick ratio of 1.30 and a debt-to-equity ratio of 162.13.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Sunday, July 31st will be given a dividend of $1.625 per share. The ex-dividend date is Friday, July 29th. This represents a $6.50 annualized dividend and a dividend yield of 1.56%. This is an increase from Canadian Tire’s previous quarterly dividend of $1.14. Canadian Tire’s dividend payout ratio is currently 25.57%.

Canadian Tire Company Profile (Get Rating)

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, tires as well as automotive repair and roadside assistance; kitchen, home organization, decor and essentials, home electronics, pet, and cleaning and consumable products; tools, hardware, paint, electrical, plumbing, home environment, and smart home products; and outdoor recreation, exercise, footwear and apparel, hunting, fishing, camping, and sporting goods.

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