Canadian Tire (OTCMKTS:CDNAF) Posts Earnings Results, Beats Estimates By $0.38 EPS

Canadian Tire (OTCMKTS:CDNAF) released its earnings results on Thursday. The company reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.38, Zacks reports. Canadian Tire had a net margin of 4.09% and a return on equity of 10.84%.

Canadian Tire Stock Up 6.6%

Shares of OTCMKTS CDNAF traded up $9.44 during midday trading on Thursday, hitting $153.44. 96 shares of the company’s stock were exchanged, compared to its average volume of 19,266. The firm’s fifty day simple moving average is $139.13 and its 200-day simple moving average is $137.08. The company has a market cap of $8.07 billion and a PE ratio of 20.38. Canadian Tire has a twelve month low of $102.83 and a twelve month high of $153.44. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.88 and a quick ratio of 1.46.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CDNAF. Scotiabank reiterated a “sector perform” rating on shares of Canadian Tire in a research note on Friday, August 14th. Royal Bank Of Canada reissued an “outperform” rating on shares of Canadian Tire in a research report on Monday, August 10th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Canadian Tire in a report on Monday, July 20th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $205.00.

Canadian Tire Company Profile

Canadian Tire Corporation is a Canadian retail company serving customers primarily across Canada. Founded in Toronto in 1922, it has grown from an automotive-focused retailer into a group of businesses spanning a range of consumer goods and services. Its Canadian Tire stores sell products for automotive care, hardware, home improvement, housewares, outdoor living and recreation. The company also operates retail banners including SportChek, which focuses on sporting goods and activewear, and Mark’s, known for workwear and casual apparel.