Canadian Tire (TSE:CTC) Stock Price Passes Below 200 Day Moving Average – Should You Sell?

Shares of Canadian Tire Co., Limited (TSE:CTC) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$224.41 and traded as low as C$206.00. Canadian Tire shares last traded at C$207.50, with a volume of 1,240 shares trading hands.

Wall Street Analysts Forecast Growth

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

Canadian Tire Price Performance

The stock has a market capitalization of C$709.65 million, a PE ratio of 30.29, a P/E/G ratio of 0.49 and a beta of 1.33. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 173.58. The stock’s 50-day moving average is C$226.23 and its 200 day moving average is C$224.41.

Canadian Tire Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, January 31st will be paid a $1.775 dividend. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Canadian Tire’s previous quarterly dividend of $1.75. This represents a $7.10 dividend on an annualized basis and a dividend yield of 3.42%. Canadian Tire’s dividend payout ratio is 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.