Canadian Tire (OTCMKTS:CDNAF) Trading Down 4.4% – Here’s Why

Shares of Canadian Tire Co., Limited (OTCMKTS:CDNAF) dropped 4.4% during trading on Wednesday . The company traded as low as $136.26 and last traded at $136.26. 105 shares changed hands during trading, a decline of 99% from the average daily volume of 18,797 shares. The stock had previously closed at $142.5370.

Wall Street Analysts Forecast Growth

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

Canadian Tire Stock Down 0.3%

The company has a quick ratio of 1.33, a current ratio of 1.74 and a debt-to-equity ratio of 0.83. The company has a market cap of $7.09 billion and a PE ratio of 17.90. The stock has a 50-day moving average of $140.46 and a 200-day moving average of $136.94.

Canadian Tire (OTCMKTS:CDNAF) last posted its quarterly earnings data on Thursday, August 13th. The company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.07. Canadian Tire had a return on equity of 10.89% and a net margin of 4.09%.The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.03 billion.

About Canadian Tire

Canadian Tire Corporation, Limited is a diversified Canadian retail company founded in Toronto in 1922 by John William Billes and Alfred Jackson Billes. Headquartered in Toronto, Ontario, the company operates a network of retail stores, digital channels and petroleum outlets across Canada. Through its integrated business model, Canadian Tire serves both urban and rural markets with a broad selection of products and services.

The company’s retail segment comprises its flagship Canadian Tire stores and branded gas bars, offering automotive parts and maintenance services, hardware and home improvement supplies, sports and leisure equipment, and seasonal merchandise.