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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Canadian Tire Corporation, Limited    CTC.A   CA1366812024

CANADIAN TIRE CORPORATION, LIMITED

(CTC.A)
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Canadian Tire : quarterly profit misses on lower fuel margins

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08/08/2019 | 07:29am EDT

(Reuters) - Department store and online retailer Canadian Tire Corp Ltd reported lower-than-expected quarterly profit on Thursday, hurt mainly by lower margins in its petroleum retail business.

The company said net fuel margins per litre fell in a competitive market, which has also been hit by the implementation of a carbon tax in some regions.

Net income rose to C$203.8 million, or C$2.87 per share, in the second quarter ended June 30 from C$ 174.4 million, or C$2.38 per share, a year earlier.

Excluding items, it earned C$2.97 per share, missing the average analyst estimate of C$3.01, according to Refinitiv IBES.

The Toronto-based company's revenue of C$3.69 billion ($2.78 billion) also missed analysts' estimate of C$3.71 billion.

Canadian Tire has been spending to broaden its retail offerings by including private labels in addition to rolling out options like home delivery and aggressively pushing e-strategies as it looks to compete with global ecommerce giants like Amazon.com and Walmart Inc to win back market share.

Separately, Canadian Tire also said it agreed to buy Party City Holdco Inc Canadian business for C$174.4 million ($131.23 million), a deal that would immediately add to its earnings.

(Reporting by Arunima Kumar in Bengaluru; Editing by Anil D'Silva)

Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN TIRE CORPORATION, LIMITED -0.26% 143.66 Delayed Quote.1.09%
PARTY CITY HOLDCO INC. 2.89% 6.77 Delayed Quote.-32.16%
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Financials (CAD)
Sales 2019 14 729 M
EBIT 2019 1 456 M
Net income 2019 833 M
Debt 2019 5 049 M
Yield 2019 2,92%
P/E ratio 2019 11,2x
P/E ratio 2020 10,0x
EV / Sales2019 1,06x
EV / Sales2020 1,03x
Capitalization 10 588 M
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Technical analysis trends CANADIAN TIRE CORPORATION,
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 164,82  CAD
Last Close Price 143,66  CAD
Spread / Highest target 32,3%
Spread / Average Target 14,7%
Spread / Lowest Target -11,6%
EPS Revisions
Managers
NameTitle
Stephen G. Wetmore President, Chief Executive Officer & Director
Maureen Joanne Sabia Non-Executive Chairman
Dean C. McCann Chief Financial Officer & Executive Vice President
Rex William Lee Chief Information Officer & Senior Vice President
Owen G. Billes Non-Independent Director
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