Canadian Tire (TSE:CTC) Stock Price Passes Below Fifty Day Moving Average – What’s Next?

Canadian Tire Co., Limited (TSE:CTC) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$249.63 and traded as low as C$240.00. Canadian Tire shares last traded at C$240.00, with a volume of 107 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets downgraded Canadian Tire from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 8th. TD Securities lowered Canadian Tire from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of C$140.00.

Canadian Tire Stock Performance

The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 150.68. The company has a market cap of C$12.82 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 0.49 and a beta of 0.63. The stock has a 50 day moving average price of C$249.31 and a two-hundred day moving average price of C$250.78.

Canadian Tire (TSE:CTC) last released its quarterly earnings data on Thursday, November 6th. The company reported C$3.78 EPS for the quarter. Canadian Tire had a return on equity of 11.54% and a net margin of 3.98%.The business had revenue of C$4.11 billion during the quarter. Analysts predict that Canadian Tire Co., Limited will post 13.6961722 EPS for the current 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.