Canadian Tire (TSE:CTC) Cut to Hold at Royal Bank of Canada

Royal Bank of Canada downgraded shares of Canadian Tire (TSE:CTC) from a moderate buy rating to a hold rating in a research report sent to investors on Friday,Zacks.com reports.

Separately, TD Securities raised Canadian Tire from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 9th.

Canadian Tire Price Performance

TSE CTC opened at C$228.01 on Friday. The company has a debt-to-equity ratio of 173.58, a current ratio of 1.79 and a quick ratio of 1.15. The stock’s fifty day moving average price is C$229.28 and its 200 day moving average price is C$227.74. Canadian Tire has a 1 year low of C$202.00 and a 1 year high of C$288.08. The company has a market cap of C$779.79 million, a price-to-earnings ratio of 33.29, a PEG ratio of 0.49 and a beta of 1.33.

Canadian Tire Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, January 31st will be given a dividend of $1.775 per share. This is an increase from Canadian Tire’s previous quarterly dividend of $1.75. This represents a $7.10 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, January 31st. Canadian Tire’s dividend payout ratio (DPR) is currently 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.