Canadian Tire (TSE:CTC) Stock Price Passes Above 50-Day Moving Average – Should You Sell?

Canadian Tire Co., Limited (TSE:CTC) shares 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 traded.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada downgraded shares of Canadian Tire from a “moderate buy” rating to a “hold” rating in a report on Friday, November 8th.

Canadian Tire Price Performance

The stock has a fifty day moving average of C$218.56 and a two-hundred day moving average of C$222.42. The company has a current ratio of 1.79, a quick ratio of 1.15 and a debt-to-equity ratio of 173.58. The stock has a market capitalization of C$803.70 million, a price-to-earnings ratio of 34.31, a PEG ratio of 0.49 and a beta of 1.33.

Canadian Tire (TSE:CTC) last announced its earnings results on Thursday, November 7th. The company reported C$3.59 earnings per share for the quarter, beating analysts’ consensus estimates of C$3.02 by C$0.57. Canadian Tire had a return on equity of 7.45% and a net margin of 2.33%. During the same period last year, the firm earned $2.96 earnings per share. As a group, equities research analysts forecast that Canadian Tire Co., Limited will post 13.6961722 earnings per share for the current year.

Canadian Tire Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, January 31st will be given a dividend of $1.775 per share. This represents a $7.10 dividend on an annualized basis and a dividend yield of 3.02%. This is a positive change from Canadian Tire’s previous quarterly dividend of $1.75. The ex-dividend date is Friday, January 31st. Canadian Tire’s dividend payout ratio is presently 102.19%.

About Canadian Tire

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.