Royal Bank of Canada Downgrades Canadian Tire (TSE:CTC) to Hold

Royal Bank of Canada downgraded shares of Canadian Tire (TSE:CTC) from a moderate buy rating to a hold rating in a report published on Friday,Zacks.com reports.

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

Canadian Tire Price Performance

Shares of CTC stock opened at C$228.01 on Friday. The firm has a market capitalization of C$779.79 million, a price-to-earnings ratio of 33.29, a PEG ratio of 0.49 and a beta of 1.33. 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 1 year low of C$202.00 and a 1 year high of C$288.08. The firm’s 50 day moving average is C$229.28 and its 200-day moving average is C$227.74.

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 given a $1.775 dividend. The ex-dividend date is Friday, January 31st. This represents a $7.10 dividend on an annualized basis and a dividend yield of 3.11%. This is an increase from Canadian Tire’s previous quarterly dividend of $1.75. Canadian Tire’s payout ratio is 102.19%.

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.