Canadian Tire (TSE:CTC) Stock Crosses Above 50 Day Moving Average – Here’s Why

Canadian Tire Co., Limited (TSE:CTC) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$212.71 and traded as high as C$220.95. Canadian Tire shares last traded at C$220.95, with a volume of 445 shares traded.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus upgraded shares of Canadian Tire to a “strong-buy” rating in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Canadian Tire currently has a consensus rating of “Moderate Buy”.

Canadian Tire Trading Down 0.0%

The business has a 50-day simple moving average of C$212.71 and a two-hundred day simple moving average of C$216.03. The stock has a market cap of C$11.62 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 0.49 and a beta of 0.69. The company has a debt-to-equity ratio of 133.63, a current ratio of 1.74 and a quick ratio of 1.15.

Canadian Tire (TSE:CTC) last released its quarterly earnings data on Thursday, May 14th. The company reported C$2.02 earnings per share (EPS) for the quarter. Canadian Tire had a return on equity of 10.24% and a net margin of 3.65%.The company had revenue of C$3.57 billion during the quarter. Equities analysts forecast that Canadian Tire Co., Limited will post 13.6961722 EPS 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.