Canadian Tire (OTCMKTS:CDNAF) Stock Jumps 7.8% Following Better-Than-Expected Earnings

Canadian Tire Co., Limited (OTCMKTS:CDNAF)’s share price rose 7.8% on Friday after the company announced better than expected quarterly earnings. The company traded as high as $155.1676 and last traded at $155.1676. 10 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 19,269 shares. The stock had previously closed at $144.00.

The company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.38. Canadian Tire had a return on equity of 10.84% and a net margin of 4.09%. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.01 billion.

Analyst Ratings Changes

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

Canadian Tire Stock Performance

The stock has a market cap of $8.16 billion and a P/E ratio of 20.61. The company has a fifty day moving average of $139.49 and a 200 day moving average of $137.23. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.88 and a quick ratio of 1.46.

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.