Canadian Tire FY2024 EPS Lowered by National Bank Financial

Canadian Tire Co., Limited (TSE:CTC) – Equities researchers at National Bank Financial reduced their FY2024 earnings per share estimates for shares of Canadian Tire in a research note issued on Thursday, January 30th. National Bank Financial analyst V. Shreedhar now expects that the company will earn $13.16 per share for the year, down from their prior forecast 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 cut Canadian Tire from a “moderate buy” rating to a “hold” rating in a report on Friday, November 8th.

Canadian Tire Stock Down 6.4 %

TSE CTC opened at C$220.00 on Monday. The company has a market cap of C$752.40 million, a price-to-earnings ratio of 32.12, a PEG ratio of 0.49 and a beta of 1.33. Canadian Tire has a 1-year low of C$192.10 and a 1-year high of C$275.36. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58. The company 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 released its quarterly earnings results on Thursday, November 7th. The company reported C$3.59 EPS for the quarter, topping analysts’ consensus estimates of C$3.02 by C$0.57. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. During the same quarter last year, the business earned $2.96 EPS.

Canadian Tire Increases Dividend

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