Canadian Tire (OTCMKTS:CDNAF) Shares Up 7.8% Following Better-Than-Expected Earnings

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

The company reported $3.05 EPS for the quarter, beating the consensus estimate of $2.67 by $0.38. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.01 billion. Canadian Tire had a return on equity of 10.84% and a net margin of 4.09%.

Analysts Set New Price Targets

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

Canadian Tire Stock Performance

The company has a quick ratio of 1.46, a current ratio of 1.88 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average price of $139.49 and a 200-day moving average price of $137.23. The firm has a market capitalization of $8.16 billion and a price-to-earnings ratio of 20.61.

Canadian Tire Company Profile

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.