FY2024 EPS Estimates for Canadian Tire Raised by Desjardins

Canadian Tire Co., Limited (TSE:CTC) – Equities research analysts at Desjardins upped their FY2024 earnings per share estimates for Canadian Tire in a research note issued on Friday, November 8th. Desjardins analyst C. Li now forecasts that the company will post earnings per share of $12.65 for the year, up from their previous 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.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada cut shares of Canadian Tire from a “moderate buy” rating to a “hold” rating in a research report on Friday, November 8th. TD Securities upgraded shares of Canadian Tire from a “hold” rating to a “strong-buy” rating in a report on Friday, August 9th.

Canadian Tire Stock Down 1.8 %

TSE CTC opened at C$224.00 on Monday. 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. The business has a fifty day moving average price of C$229.24 and a 200 day moving average price of C$227.74. The company has a market cap of C$766.08 million, a P/E ratio of 33.29, a P/E/G ratio of 0.49 and a beta of 1.33.

Canadian Tire Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, January 31st will be paid a $1.775 dividend. This is a boost from Canadian Tire’s previous quarterly dividend of $1.75. The ex-dividend date is Friday, January 31st. This represents a $7.10 annualized dividend and a dividend yield of 3.17%. Canadian Tire’s dividend payout ratio is 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.