Q3 Earnings Forecast for Canadian Tire Issued By Desjardins

Canadian Tire Co., Limited (TSE:CTC) – Investment analysts at Desjardins lowered their Q3 2024 earnings estimates for shares of Canadian Tire in a note issued to investors on Tuesday, November 5th. Desjardins analyst C. Li now forecasts that the company will post earnings per share of $2.85 for the quarter, down from their previous 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 issued 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 firm had revenue of C$4.13 billion during the quarter, compared to the consensus estimate 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 Stock Performance

Shares of CTC stock opened at C$220.00 on Thursday. 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 firm has a market capitalization of C$752.40 million, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 0.49 and a beta of 1.33. Canadian Tire has a one year low of C$202.00 and a one year high of C$288.08. The company has a 50 day moving average price of C$229.36 and a 200 day moving average price of 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.