Q3 Earnings Forecast for Canadian Tire Issued By Desjardins

Canadian Tire Co., Limited (TSE:CTC) – Analysts at Desjardins cut 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 post earnings per share of $2.85 for the quarter, down from their prior estimate of $2.92. The consensus estimate for Canadian Tire’s current full-year earnings is $13.70 per share.

Canadian Tire (TSE:CTC) last posted its quarterly earnings data on Thursday, August 8th. The company reported C$3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.46 by C$1.10. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%. The company had revenue of C$4.13 billion for the quarter, compared to analysts’ expectations of C$4.07 billion.

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

Canadian Tire Trading Down 2.2 %

CTC stock opened at C$220.00 on Thursday. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58. Canadian Tire has a 12-month low of C$202.00 and a 12-month high of C$288.08. The stock has a market cap of C$752.40 million, a price-to-earnings ratio of 32.12, a PEG ratio of 0.49 and a beta of 1.33. The business’s 50-day moving average is C$229.36 and its 200 day moving average is C$228.01.

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.