Canadian Tire Corporation Ltd reports results for the quarter ended in June - Earnings Summary

Canadian Tire

08/08/2024 14:53

* Canadian Tire Corporation Ltd  CTCa.TO  reported quarterly
adjusted earnings of C$3.56​​ per share for the quarter ended in
June, higher than the same quarter last year, when the company
reported EPS of C$3.08.  The mean expectation of seven analysts
for the quarter was for earnings of C$2.42 per share. Wall
Street expected results to range from C$2.25  to C$2.74 per
share.
    * Revenue fell 2.9% to C$4.13 billion from a year ago;
analysts
expected C$4.08 billion. 
    * Canadian Tire Corporation Ltd's reported EPS for the
quarter was
C$3.56​.
    * The company reported quarterly net income of $198.8
million.
    * Canadian Tire Corporation Ltd shares had risen by 1.7%
this
quarter and lost 1.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2.4%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 6
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the department
stores
peer group is also "hold"

Wall Street's median 12-month price target for Canadian Tire
Corporation Ltd is C$152.50 
This summary was machine generated from LSEG data August 8 at
01:53 p.m. UTC. ​All figures in Canadian dollars unless
otherwise stated. (For questions concerning the data in this
report, contact Estimates.Support@lseg.com. For any other
questions or feedback, contact
RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      2.42           3.56           Beat
 Mar. 31 2024      0.67           1.38           Beat
 Dec. 31 2023      4.86           3.38           Missed
 Sep. 30 2023      3.29           2.96           Missed