Desjardins Has Negative Outlook of Canadian Tire Q3 Earnings

Canadian Tire Co., Limited (TSE:CTC) – Equities researchers at Desjardins reduced their Q3 2024 earnings per share estimates for shares of Canadian Tire in a note issued to investors on Tuesday, November 5th. Desjardins analyst C. Li now anticipates that the company will earn $2.85 per share for the quarter, down from their prior forecast of $2.92. The consensus estimate for Canadian Tire’s current full-year earnings is $13.70 per share.

Canadian Tire (TSE:CTC) last announced its earnings results on Thursday, August 8th. The company reported C$3.56 EPS for the quarter, beating analysts’ consensus estimates of C$2.46 by C$1.10. The firm had revenue of C$4.13 billion for the quarter, compared to analysts’ expectations 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 raised Canadian Tire from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 9th.

Canadian Tire Trading Up 3.6 %

Shares of Canadian Tire stock opened at C$228.01 on Thursday. Canadian Tire has a fifty-two week low of C$202.00 and a fifty-two week high of C$288.08. The firm has a market cap of C$779.79 million, a PE ratio of 33.29, a P/E/G ratio of 0.49 and a beta of 1.33. The business’s fifty day moving average is C$229.32 and its two-hundred day moving average is C$227.99. 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 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.