Canadian Tire (TSE:CTC) Trading Down 4.7% – Here’s What Happened

Canadian Tire Co., Limited (TSE:CTC) was down 4.7% during mid-day trading on Wednesday . The company traded as low as C$204.32 and last traded at C$204.32. Approximately 763 shares were traded during mid-day trading, an increase of 51% from the average daily volume of 506 shares. The stock had previously closed at C$214.50.

Wall Street Analysts Forecast Growth

Separately, Scotiabank upgraded shares of Canadian Tire from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Canadian Tire Stock Performance

The company’s fifty day moving average is C$217.36 and its 200-day moving average is C$232.69. The company has a current ratio of 1.83, a quick ratio of 1.15 and a debt-to-equity ratio of 166.61. The firm has a market capitalization of C$11.33 billion, a P/E ratio of 22.12, a P/E/G ratio of 0.49 and a beta of 0.45.

Canadian Tire (TSE:CTC) last announced its earnings results on Thursday, February 19th. The company reported C$4.47 EPS for the quarter. Canadian Tire had a net margin of 3.24% and a return on equity of 8.99%. The firm had revenue of C$4.55 billion for the quarter. As a group, sell-side analysts anticipate that Canadian Tire Co., Limited will post 13.6961722 earnings per share for the current fiscal year.

Canadian Tire Company Profile

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.