FY2024 EPS Estimate for Canadian Tire Reduced by Analyst

Canadian Tire Co., Limited (TSE:CTC) – Equities research analysts at National Bank Financial dropped their FY2024 EPS estimates for shares of Canadian Tire in a note issued to investors on Thursday, January 30th. National Bank Financial analyst V. Shreedhar now forecasts that the company will post earnings of $13.16 per share for the year, down from their previous estimate of $13.29. The consensus estimate for Canadian Tire’s current full-year earnings is $13.70 per share. National Bank Financial also issued estimates for Canadian Tire’s Q4 2024 earnings at $4.62 EPS, Q1 2025 earnings at $1.54 EPS, Q2 2025 earnings at $4.08 EPS, Q3 2025 earnings at $4.09 EPS, Q4 2025 earnings at $5.37 EPS and FY2025 earnings at $15.08 EPS.

Separately, Royal Bank of Canada cut shares of Canadian Tire from a “moderate buy” rating to a “hold” rating in a report on Friday, November 8th.

Canadian Tire Price Performance

Shares of CTC stock opened at C$235.00 on Monday. The business has a fifty day simple moving average of C$218.56 and a 200 day simple moving average of C$222.53. The company has a market cap of C$803.70 million, a P/E ratio of 34.31, a P/E/G ratio of 0.49 and a beta of 1.33. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. Canadian Tire has a twelve month low of C$192.10 and a twelve month high of C$275.36.

Canadian Tire (TSE:CTC) last released its earnings results on Thursday, November 7th. The company reported C$3.59 earnings per share for the quarter, topping the consensus estimate of C$3.02 by C$0.57. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%. During the same quarter in the previous year, the firm earned $2.96 earnings per share.

Canadian Tire Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, January 31st will be paid a dividend of $1.775 per share. This represents a $7.10 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from Canadian Tire’s previous quarterly dividend of $1.75. Canadian Tire’s payout ratio 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.