Brokers Set Expectations for Canadian Tire Co., Limited’s Q1 2024 Earnings (TSE:CTC)

Canadian Tire Co., Limited (TSE:CTC) – Investment analysts at National Bank Financial decreased their Q1 2024 earnings per share estimates for shares of Canadian Tire in a research note issued to investors on Sunday, April 28th. National Bank Financial analyst V. Shreedhar now anticipates that the company will earn $1.01 per share for the quarter, down from their previous estimate of $1.69. 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 Q1 2025 earnings at $1.30 EPS and FY2025 earnings at $14.72 EPS.

Canadian Tire (TSE:CTC) last announced its quarterly earnings results on Thursday, February 15th. The company reported C$3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of C$4.81 by C($1.43). The company had revenue of C$4.44 billion during the quarter, compared to analyst estimates of C$4.84 billion. Canadian Tire had a net margin of 1.28% and a return on equity of 5.03%.

Canadian Tire Stock Down 16.5 %

Shares of Canadian Tire stock opened at C$230.00 on Wednesday. The business has a 50-day moving average of C$245.59 and a 200-day moving average of C$260.66. 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 company has a market capitalization of C$786.60 million, a PE ratio of 60.85, a P/E/G ratio of 3.55 and a beta of 1.37. Canadian Tire has a 1-year low of C$228.85 and a 1-year high of C$325.90.

Canadian Tire Dividend Announcement

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