Research Analysts Set Expectations for Canadian Tire Co., Limited’s Q2 2024 Earnings (TSE:CTC)

Canadian Tire Co., Limited (TSE:CTC) – Stock analysts at National Bank Financial dropped their Q2 2024 earnings per share estimates for Canadian Tire in a research report issued on Sunday, April 28th. National Bank Financial analyst V. Shreedhar now anticipates that the company will post earnings per share of $3.03 for the quarter, down from their previous forecast of $3.21. The consensus estimate for Canadian Tire’s current full-year earnings is $11.19 per share. National Bank Financial also issued estimates for Canadian Tire’s Q3 2024 earnings at $3.87 EPS, Q4 2024 earnings at $4.88 EPS, FY2024 earnings at $12.80 EPS, Q2 2025 earnings at $3.56 EPS, Q3 2025 earnings at $4.37 EPS and Q4 2025 earnings at $5.48 EPS.

Canadian Tire (TSE:CTC) last released its quarterly earnings data on Thursday, February 15th. The company reported C$3.38 earnings per share for the quarter, missing analysts’ consensus estimates of C$4.81 by C($1.43). Canadian Tire had a net margin of 1.28% and a return on equity of 5.03%. The company had revenue of C$4.44 billion for the quarter, compared to analyst estimates of C$4.84 billion.

Canadian Tire Price Performance

Shares of Canadian Tire stock opened at C$275.36 on Tuesday. The stock has a market capitalization of C$941.73 million, a price-to-earnings ratio of 72.85, a P/E/G ratio of 3.55 and a beta of 1.37. Canadian Tire has a 1-year low of C$228.85 and a 1-year high of C$325.90. The firm’s 50-day moving average price is C$246.27 and its two-hundred day moving average price is C$261.25. The company has a current ratio of 1.77, a quick ratio of 1.15 and a debt-to-equity ratio of 180.91.

Canadian Tire Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, April 30th will be paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Monday, April 29th. Canadian Tire’s dividend payout ratio is currently 185.19%.

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.