Tim Hortons Lowered to Market Perform at Raymond James (THI)
Tim Hortons (TSE:THI) was downgraded by equities researchers at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday. They currently have a C$92.50 target price on the stock, up from their previous target price of C$72.00. Raymond James’ price target indicates a potential upside of 4.27% from the stock’s previous close.
Shares of Tim Hortons (TSE:THI) traded down 2.15% during mid-day trading on Wednesday, hitting $86.80. 1,236,138 shares of the company’s stock traded hands. Tim Hortons has a 1-year low of $56.12 and a 1-year high of $89.99. The stock has a 50-day moving average of $64.13 and a 200-day moving average of $60.85. The company has a market cap of $11.529 billion and a P/E ratio of 29.18.
Tim Hortons (TSE:THI) last released its earnings data on Thursday, August 7th. The company reported $0.92 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.86 by $0.06. Analysts expect that Tim Hortons will post $3.31 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 $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Thursday, August 14th.
Several other analysts have also recently commented on the stock. Analysts at Desjardins raised their price target on shares of Tim Hortons from C$85.00 to C$89.00 in a research note on Wednesday. Separately, analysts at BMO Capital Markets downgraded shares of Tim Hortons to a “market perform” rating in a research note on Wednesday. Finally, analysts at TD Securities raised their price target on shares of Tim Hortons from C$70.00 to C$82.00 in a research note on Tuesday. They now have a “hold” rating on the stock. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of C$82.79.
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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