Canadian Tire (OTCMKTS:CDNAF) Shares Gap Up Following Better-Than-Expected Earnings

Canadian Tire Co., Limited (OTCMKTS:CDNAF)’s share price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $145.01, but opened at $152.27. Canadian Tire shares last traded at $152.27, with a volume of 1 shares trading hands.

The company reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.38. Canadian Tire had a net margin of 4.09% and a return on equity of 10.84%.

Analyst Ratings Changes

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

Canadian Tire Stock Up 6.5%

The company’s 50 day moving average price is $139.13 and its 200 day moving average price is $137.08. The company has a quick ratio of 1.46, a current ratio of 1.88 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $8.07 billion and a price-to-earnings ratio of 20.37.

About Canadian Tire

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.