Tim Hortons Cut to “Sector Perform” at CIBC (THI)
Tim Hortons (NYSE:THI) was downgraded by CIBC from an “outperform” rating to a “sector perform” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports.
Tim Hortons (NYSE:THI) opened at 81.05 on Wednesday. Tim Hortons has a 52 week low of $50.67 and a 52 week high of $82.16. The stock has a 50-day moving average of $59.01 and a 200-day moving average of $55.69. The company has a market cap of $10.765 billion and a price-to-earnings ratio of 27.12. Tim Hortons also was the target of unusually large options trading activity on Tuesday. Stock traders bought 5,309 put options on the stock. This represents an increase of 1,185% compared to the typical daily volume of 413 put options.
Tim Hortons (NYSE:THI) last posted its quarterly earnings results 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 $3.30 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 3rd. Stockholders 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.
A number of other firms have also recently commented on THI. Analysts at Raymond James downgraded shares of Tim Hortons to a “market perform” rating in a research note on Wednesday. Separately, analysts at Miller Tabak & Co. downgraded shares of Tim Hortons from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, 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. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $76.00.
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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