Canadian Tire (TSE:CTC) Stock Passes Above 50 Day Moving Average - Here's What Happened

Canadian Tire Co., Limited (TSE:CTC - Get Free Report)'s stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$218.56 and traded as high as C$235.00. Canadian Tire shares last traded at C$235.00, with a volume of 328 shares trading hands.

Analysts Set New Price Targets

Separately, Royal Bank of Canada cut Canadian Tire from a "moderate buy" rating to a "hold" rating in a research note on Friday, November 8th.

Canadian Tire Trading Down 6.4 %

The business's 50-day moving average price is C$218.02 and its 200-day moving average price is C$222.63. The firm has a market capitalization of C$752.40 million, a PE ratio of 32.12, a price-to-earnings-growth ratio of 0.49 and a beta of 1.33. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15.

Canadian Tire (TSE:CTC - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$3.59 EPS for the quarter, beating analysts' consensus estimates of C$3.02 by C$0.57. Canadian Tire had a net margin of 2.33% and a return on equity of 7.45%. During the same period last year, the firm earned $2.96 EPS. As a group, analysts expect that Canadian Tire Co., Limited will post 13.6961722 earnings per share for the current fiscal year.

Canadian Tire Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, January 31st will be paid a $1.775 dividend. This is an increase from Canadian Tire's previous quarterly dividend of $1.75. This represents a $7.10 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Friday, January 31st. Canadian Tire's dividend payout ratio (DPR) is 102.19%.

Canadian Tire Company Profile

Canadian Tire Corporation, Limited provides a range of retail goods and services in Canada. It operates in three segments: Retail, CT REIT, and Financial Services. The Retail segment retails automotive maintenance products and accessories, parts, and tires, as well as automotive services and roadside assistance; electrical, hardware, home environment, paint, plumbing, and tool products; cleaning, food & drink, home décor, home essentials, home organization, kitchen, and pet care products; camping, exercise, hockey, hunting, fishing, seasonal recreation, and team sports and golf products; and backyard living, backyard fun, cycling, gardening, outdoor tools, seasonal, and toy products.