Tim Hortons Downgraded by BMO Capital Markets to “Market Perform” (THI)
Tim Hortons (NYSE:THI) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports.
Shares of Tim Hortons (NYSE:THI) opened at 81.05 on Wednesday. Tim Hortons has a one year low of $50.67 and a one year high of $82.16. The stock’s 50-day moving average is $59.01 and its 200-day moving average is $55.69. The company has a market cap of $10.765 billion and a P/E ratio of 29.48. Tim Hortons also was the target of some unusual options trading on Tuesday. Investors bought 5,309 put options on the stock. This is an increase of approximately 1,185% compared to the average daily volume of 413 put options.
Tim Hortons (NYSE:THI) last announced its earnings results on Wednesday, August 6th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter 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 announced a quarterly dividend, which is scheduled for Wednesday, September 3rd. Investors of record on Monday, August 18th will be paid a dividend of $0.2935 per share. This represents a $1.17 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Thursday, August 14th.
THI has been the subject of a number of other recent research reports. Analysts at Credit Suisse upgraded shares of Tim Hortons from an “underperform” rating to a “neutral” rating in a research note on Wednesday. Separately, analysts at CIBC downgraded shares of Tim Hortons from an “outperform” rating to a “sector perform” rating in a research note on Wednesday. Finally, analysts at Raymond James downgraded shares of Tim Hortons from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average 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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