Canadian Tire (TSE:CTC) Stock Price Down 2% - What's Next?

Key Points

• Shares fell 2% to C$215.50 midday on light volume (140 shares, down 72% vs. the 495-share average), leaving the price just above its 50-day MA (C$214.94) but below the 200-day MA (C$228.68).
• Scotiabank upgraded Canadian Tire from "strong sell" to "hold," and the stock carries a consensus Hold rating from three analysts.
• Company fundamentals show a market cap of C$11.36 billion with a P/E of 22.29 and a high debt-to-equity ratio (166.61); last quarter EPS was C$4.47 on C$4.55 billion revenue, with a 3.24% net margin and 8.99% ROE.

Shares of Canadian Tire Co., Limited (TSE:CTC - Get Free Report) traded down 2% during mid-day trading on Wednesday . The stock traded as low as C$215.50 and last traded at C$215.50. 140 shares changed hands during trading, a decline of 72% from the average session volume of 495 shares. The stock had previously closed at C$219.96.

Analyst Ratings Changes

Separately, Scotiabank raised shares of Canadian Tire from a "strong sell" rating to a "hold" rating in a research note on Friday, February 20th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold".

Canadian Tire Price Performance

The business's 50 day moving average is C$214.94 and its two-hundred day moving average is C$228.68. The firm has a market cap of C$11.36 billion, a P/E ratio of 22.29, a P/E/G ratio of 0.49 and a beta of 0.48. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 166.61.

Canadian Tire (TSE:CTC - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported C$4.47 EPS for the quarter. The business had revenue of C$4.55 billion during the quarter. Canadian Tire had a net margin of 3.24% and a return on equity of 8.99%. As a group, analysts anticipate that Canadian Tire Co., Limited will post 13.6961722 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.

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