Canadian Tire Co., Limited to Post Q2 2024 Earnings of $3.03 Per Share, National Bank Financial Forecasts (TSE:CTC)

Canadian Tire Co., Limited (TSE:CTC) – Equities research analysts at National Bank Financial cut their Q2 2024 earnings per share (EPS) estimates for Canadian Tire in a research report issued to clients and investors on Sunday, April 28th. National Bank Financial analyst V. Shreedhar now forecasts that the company will earn $3.03 per share for the quarter, down from their prior estimate 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 announced its quarterly earnings results on Thursday, February 15th. The company reported C$3.38 earnings per share for the quarter, missing the consensus estimate of C$4.81 by C($1.43). The firm had revenue of C$4.44 billion for the quarter, compared to analysts’ expectations of C$4.84 billion. Canadian Tire had a net margin of 1.28% and a return on equity of 5.03%.

Canadian Tire Trading Down 16.5 %

CTC opened at C$230.00 on Tuesday. Canadian Tire has a one year low of C$228.85 and a one year high of C$325.90. The company has a debt-to-equity ratio of 180.91, a current ratio of 1.77 and a quick ratio of 1.15. The business has a 50 day simple moving average of C$245.99 and a two-hundred day simple moving average of C$260.88. The firm has a market capitalization of C$786.60 million, a price-to-earnings ratio of 60.85, a PEG ratio of 3.55 and a beta of 1.37.

Canadian Tire Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, April 30th will be issued a $1.75 dividend. This represents a $7.00 annualized dividend and a yield of 3.04%. The ex-dividend date is Monday, April 29th. Canadian Tire’s dividend payout ratio (DPR) 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.