Canadian Tire’s (TSX:CTC.A) Q1 Profit & Sales Up. Should You Buy?

2 min read | May 13, 2021 11:14 AM PDT | By Team Kalkine Media

Canadian Tire’s (TSX:CTC.A) Q1 Profit & Sales Up. Should You Buy? — Image source: Blue Planet Studio,Shutterstock

Canadian Tire Corp Ltd (TSX: CTC.A)

The firm operates multipurpose departmental stores and owns 70 per cent stake in CT REIT. Its class A share was trading at C$ 213 apiece (11AM EST), with a market cap of around C$ 12 billion.

The retail stock rose 119 per cent in the past one year and outperformed the S&P/TSX General Merchandise Stores Index, which grew almost 30 per cent relatively. It is up nearly 20 per cent quarter-to-date (QTD), guided by the gradual reopening of non-essential businesses.

The stock topped its 52-week high of 203.27 apiece on Thursday, May 13, led by the robust quarterly financial numbers. CTC.A stock was 19 per cent above the 200-day simple moving average (SMA), as per Wednesday’s closing price of C$ 192.44, reflecting a bull run.

It delivers earnings per share of 12.35 and a return on equity of 17.5 per cent, as per TMX. It holds a reliable three-year dividend growth of around 20 per cent.

The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.

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