BMO Capital Markets Issues Pessimistic Forecast for Canadian Tire (TSE:CTC.A) Stock Price

Canadian Tire (TSE:CTC.A) had its price target cut by stock analysts at BMO Capital Markets from C$194.00 to C$185.00 in a report released on Friday,BayStreet.CA reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 8.98% from the company’s current price.

Several other research firms have also recently issued reports on CTC.A. Royal Bank Of Canada decreased their target price on shares of Canadian Tire from C$220.00 to C$216.00 and set an “outperform” rating on the stock in a research report on Friday. National Bank Financial decreased their target price on shares of Canadian Tire from C$211.00 to C$205.00 and set a “sector perform” rating on the stock in a research report on Friday. Desjardins reduced their price target on shares of Canadian Tire from C$203.00 to C$200.00 and set a “buy” rating on the stock in a research report on Friday. TD Securities lifted their price target on shares of Canadian Tire from C$194.00 to C$205.00 and gave the company a “hold” rating in a research report on Friday, February 20th. Finally, Scotiabank raised shares of Canadian Tire from an “underperform” rating to a “sector perform” rating and lifted their price target for the company from C$160.00 to C$180.00 in a research report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$197.50.

Canadian Tire Trading Down 3.0%

Shares of CTC.A traded down C$5.20 during mid-day trading on Friday, hitting C$169.75. The company had a trading volume of 124,284 shares, compared to its average volume of 247,115. The business’s 50-day simple moving average is C$189.09 and its 200-day simple moving average is C$179.28. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. Canadian Tire has a 1-year low of C$158.18 and a 1-year high of C$202.46. The stock has a market cap of C$8.95 billion, a PE ratio of 17.55, a P/E/G ratio of 0.35 and a beta of 1.17.

Canadian Tire (TSE:CTC.A) last released its earnings results on Thursday, May 14th. The company reported C$2.02 earnings per share (EPS) for the quarter. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. The business had revenue of C$3.57 billion for the quarter. Sell-side analysts forecast that Canadian Tire will post 13.638961 earnings per share for the current year.

About Canadian Tire

Canadian Tire Corporation, Limited, (TSX: CTC.A) (TSX: CTC) or ‘CTC’, is a group of companies that includes a Retail segment, a Financial Services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal & Gardening divisions. Party City, PartSource and Gas+ are key parts of the Canadian Tire network. The Retail segment also includes Mark’s, a leading source for casual and industrial wear; Pro Hockey Life, a hockey specialty store catering to elite players; and SportChek, Hockey Experts, Sports Experts and Atmosphere, which offer the best active wear brands.