Canadian Tire Co., Limited (TSE:CTC) Forecasted to Post Q1 2024 Earnings of $0.57 Per Share

Canadian Tire Co., Limited (TSE:CTC) – Investment analysts at Desjardins lifted their Q1 2024 earnings per share estimates for Canadian Tire in a research report issued to clients and investors on Monday, May 6th. Desjardins analyst C. Li now forecasts that the company will post earnings of $0.57 per share for the quarter, up from their previous forecast of $0.03. The consensus estimate for Canadian Tire’s current full-year earnings is $11.18 per share. Desjardins also issued estimates for Canadian Tire’s FY2024 earnings at $10.63 EPS and FY2025 earnings at $13.44 EPS.

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

Canadian Tire Stock Performance

Shares of CTC opened at C$240.01 on Thursday. Canadian Tire has a 52-week low of C$224.35 and a 52-week high of C$325.90. The stock’s 50-day simple moving average is C$244.17 and its 200 day simple moving average is C$259.10. The company has a debt-to-equity ratio of 180.91, a quick ratio of 1.15 and a current ratio of 1.77. The stock has a market capitalization of C$820.83 million, a price-to-earnings ratio of 63.66, a price-to-earnings-growth ratio of 3.55 and a beta of 1.37.

Canadian Tire Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, April 30th will be issued 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 presently 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.