Q4 Earnings Estimate for Canadian Tire Issued By Desjardins

Canadian Tire Co., Limited (TSE:CTC) – Equities researchers at Desjardins raised their Q4 2024 EPS estimates for shares of Canadian Tire in a research note issued to investors on Tuesday, November 5th. Desjardins analyst C. Li now forecasts that the company will earn $4.26 per share for the quarter, up from their prior forecast of $4.20. The consensus estimate for Canadian Tire’s current full-year earnings is $13.70 per share.

Canadian Tire (TSE:CTC) last posted its earnings results on Thursday, August 8th. The company reported C$3.56 EPS for the quarter, beating the consensus estimate of C$2.46 by C$1.10. The company had revenue of C$4.13 billion during the quarter, compared to analyst estimates of C$4.07 billion. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%.

Separately, TD Securities upgraded Canadian Tire from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 9th.

Canadian Tire Trading Up 3.6 %

TSE:CTC opened at C$228.01 on Friday. The firm has a market capitalization of C$779.79 million, a P/E ratio of 33.29, a P/E/G ratio of 0.49 and a beta of 1.33. The business has a 50 day simple moving average of C$229.28 and a 200 day simple moving average of C$227.90. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15. Canadian Tire has a 12-month low of C$202.00 and a 12-month high of C$288.08.

Canadian Tire Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, January 31st will be paid a $1.775 dividend. The ex-dividend date is Friday, January 31st. This represents a $7.10 annualized dividend and a dividend yield of 3.11%. This is a positive change from Canadian Tire’s previous quarterly dividend of $1.75. Canadian Tire’s dividend payout ratio (DPR) is presently 102.19%.

Canadian Tire Company Profile

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.