Canadian coffee and doughnut chain Tim Hortons Inc. (
) on Thursday posted a solid uptick in second quarter earnings, led
by higher growth in its U.S. locations.
The Oakville, ON-based company reported second quarter net
income of C$108.1 million, or C$0.69 per share, compared with
C$95.5 million, or C$0.58 per share, in the year-ago period.
Revenue jumped nearly 12% from last year to C$785.6 million.
On average, Wall Street analysts expected a matching $0.69
profit, on lower revenue of C$781.84 million.
Tim Hortons shares were unchanged in premarket trading
The Bottom Line
Shares of Tim Horton's (
) have a 1.60% dividend yield, based on last night's closing stock
price of $52.58. The stock has technical support in the $48-$51
price area. If the shares can firm up, we see overhead resistance
around the $54-$58 price levels.
Tim Hortons Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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