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Tim Hortons (NYSE:THI) was the recipient of some unusual options trading on Tuesday. Traders purchased 5,309 put options on the stock, AR Network reports. This is an increase of 1,185% compared to the typical daily volume of 413 put options.

THI has been the subject of a number of recent research reports. Analysts at Miller Tabak & Co. downgraded shares of Tim Hortons from a “buy” rating to a “hold” rating in a research note on Tuesday. Separately, analysts at Miller Tabak downgraded shares of Tim Hortons from a “buy” rating to a “hold” rating in a research note on Tuesday. They now have a $81.00 price target on the stock, up previously from $65.00. Finally, analysts at Desjardins downgraded shares of Tim Hortons from a “buy” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $74.40.

Shares of Tim Hortons (NYSE:THI) traded up 8.47% on Tuesday, hitting $81.05. 15,713,208 shares of the company’s stock traded hands. Tim Hortons has a 52 week low of $50.67 and a 52 week high of $77.80. The stock has a 50-day moving average of $58. and a 200-day moving average of $55.48. The company has a market cap of $10.765 billion and a price-to-earnings ratio of 27.12.

Tim Hortons (NYSE:THI) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.92 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.81 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts expect that Tim Hortons will post $3.30 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 3rd. Shareholders 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 1.45%. The ex-dividend date of this dividend is Thursday, August 14th.

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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