Canadian Tire (OTCMKTS:CDNAF) Stock Price Down 1.9% – Here’s Why

Canadian Tire Co., Limited (OTCMKTS:CDNAF)’s stock price dropped 1.9% during mid-day trading on Monday . The company traded as low as $129.5550 and last traded at $130.8775. Approximately 1,767 shares were traded during trading, a decline of 90% from the average session volume of 17,653 shares. The stock had previously closed at $133.3475.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CDNAF shares. BMO Capital Markets reissued a “market perform” rating on shares of Canadian Tire in a report on Friday, May 15th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian Tire in a report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $205.00.

Canadian Tire Trading Up 1.5%

The company has a current ratio of 1.74, a quick ratio of 1.33 and a debt-to-equity ratio of 0.83. The stock has a market cap of $7.04 billion and a price-to-earnings ratio of 28.60. The company has a fifty day simple moving average of $133.67 and a 200-day simple moving average of $131.85.

Canadian Tire (OTCMKTS:CDNAF) last announced its earnings results on Thursday, May 14th. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.30 by $0.17. Canadian Tire had a net margin of 3.63% and a return on equity of 10.63%. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.55 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.