FY2024 EPS Estimates for Canadian Tire Lowered by Analyst

Canadian Tire Co., Limited (TSE:CTC) – Analysts at National Bank Financial decreased their FY2024 EPS estimates for Canadian Tire in a research note issued on Thursday, January 30th. National Bank Financial analyst V. Shreedhar now expects that the company will post earnings per share of $13.16 for the year, down from their prior estimate of $13.29. The consensus estimate for Canadian Tire’s current full-year earnings is $13.70 per share. National Bank Financial also issued estimates for Canadian Tire’s Q4 2024 earnings at $4.62 EPS, Q1 2025 earnings at $1.54 EPS, Q2 2025 earnings at $4.08 EPS, Q3 2025 earnings at $4.09 EPS, Q4 2025 earnings at $5.37 EPS and FY2025 earnings at $15.08 EPS.

Separately, Royal Bank of Canada lowered Canadian Tire from a “moderate buy” rating to a “hold” rating in a report on Friday, November 8th.

Canadian Tire Trading Down 6.4 %

TSE:CTC opened at C$220.00 on Monday. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15. Canadian Tire has a one year low of C$192.10 and a one year high of C$275.36. The company has a market cap of C$752.40 million, a PE ratio of 32.12, a PEG ratio of 0.49 and a beta of 1.33. The firm has a 50-day moving average of C$218.02 and a 200-day moving average of C$222.63.

Canadian Tire (TSE:CTC) last issued its earnings results on Thursday, November 7th. The company reported C$3.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$3.02 by C$0.57. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%. During the same period in the previous year, the company posted $2.96 EPS.

Canadian Tire Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, January 31st will be issued a dividend of $1.775 per share. The ex-dividend date is Friday, January 31st. This is a boost from Canadian Tire’s previous quarterly dividend of $1.75. This represents a $7.10 annualized dividend and a yield of 3.23%. Canadian Tire’s payout ratio is 102.19%.

About Canadian Tire

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.