02:31:43 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



Canadian Tire Corp Ltd
Symbol CTC
Shares Issued 3,423,366
Close 2023-11-27 C$ 260.00
Market Cap C$ 890,075,160
Recent Sedar Documents

FP says Cdn Tire trading at only nine times earnings

2023-11-27 08:13 ET - In the News

The Financial Post reports in its Saturday, Nov. 25, edition that as a tax-loss selling target, Canadian Tire is a table-pounding buy. The Post's guest columnist Robert Gill writes that in recent years, Canadian Tire has come under increasing threat from large on-line retailers that continue to take market share from their brick-and-mortar peers. To defend against this competition, Canadian Tire has attempted to steer its business away from the on-line threat by focusing on products that are difficult to distribute by mail, including a greater focus on automotive, garden furniture and sports equipment. Its shares have fallen to about $143, a 34-per-cent drop from their all-time high of $215 in 2021. While the S&P/TSX composite index trades at a relatively higher 14.4 times earnings, Canadian Tire is very attractive at only nine times earnings -- a single-digit multiple. It also offers an impressive dividend yield of 4.7 per cent. Mr. Gill says Canadian Tire delivers plenty of income at a very attractive share price. If shares simply appreciate to their prior level of $215, that would be a 50 per cent return, and that is without accounting for dividends.

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