FY2024 EPS Estimates for Canadian Tire Boosted by Desjardins

Canadian Tire Co., Limited (TSE:CTC) – Analysts at Desjardins raised their FY2024 earnings per share (EPS) estimates for shares of Canadian Tire in a research note issued to investors on Friday, November 8th. Desjardins analyst C. Li now anticipates that the company will post earnings of $12.65 per share for the year, up from their prior forecast of $12.05. The consensus estimate for Canadian Tire’s current full-year earnings is $13.70 per share. Desjardins also issued estimates for Canadian Tire’s FY2025 earnings at $13.35 EPS.

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

Canadian Tire Price Performance

Shares of CTC opened at C$228.01 on Monday. The firm has a market capitalization of C$779.79 million, a price-to-earnings ratio of 33.29, a price-to-earnings-growth ratio of 0.49 and a beta of 1.33. The stock’s fifty day moving average is C$229.28 and its 200-day moving average is C$227.74. Canadian Tire has a one year low of C$202.00 and a one year high of C$288.08. The company has a debt-to-equity ratio of 173.58, a quick ratio of 1.15 and a current ratio of 1.79.

Canadian Tire Increases Dividend

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

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.