Longbow Research Downgrades Tim Hortons to Neutral (THI)
Tim Hortons (NYSE:THI) was downgraded by equities research analysts at Longbow Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports.
Shares of Tim Hortons (NYSE:THI) opened at 74.72 on Tuesday. Tim Hortons has a 1-year low of $50.67 and a 1-year high of $77.80. The stock’s 50-day moving average is $58. and its 200-day moving average is $55.48. The company has a market cap of $9.924 billion and a price-to-earnings ratio of 22.81.
Tim Hortons (NYSE:THI) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.92 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.86 by $0.06. The company had revenue of $874.30 million for the quarter, compared to the consensus estimate of $840.50 million. During the same quarter last year, the company posted $0.81 earnings per share. Tim Hortons’s revenue was up 9.3% compared to the same quarter last year. Analysts expect that Tim Hortons will post $3.29 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 3rd. Investors of record on Monday, August 18th will be given a dividend of $0.2935 per share. This represents a $1.17 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Thursday, August 14th.
Other equities research analysts have also recently issued reports about the stock. Analysts at KeyCorp raised their price target on shares of Tim Hortons to $90.00 in a research note on Monday. Analysts at BMO Capital Markets upgraded shares of Tim Hortons from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $70.50.
Tim Hortons Inc, is a quick service restaurant in North America. The Company’s menu includes premium coffee, espresso-based hot and cold specialty drinks, including lattes, cappuccinos and espresso shots, specialty teas, fruit smoothies, home-style soups, grilled Panini and classic sandwiches, wraps, hot breakfast sandwiches and fresh baked goods, including donuts.
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