Canadian fast food breakfast chain Tim Hortons Inc. ( THI ) on Thursday said its first quarter profit rose from last year, but results fell short of analyst expectations.
The Oakville, Canada-based company reported first quarter net income of C$80.7 million, or C$0.48 per share, compared with C$78.9 million, or C$0.45 per share, in the year-ago period.
Revenue rose more than 10% from last year to C$643.5 million.
On average, Wall Street analysts expected a higher profit of C$0.52 per share, albeit on lower revenue of C$613.77 million.
Tim Hortons shares were mostly flat in premarket trading Thursday.
The Bottom Line
Shares of Tim Hortons ( THI ) have a 1.36% dividend yield, based on last night's closing stock price of $49.92. The stock has technical support in the $43-$46 price area. The shares are trading at all-time highs and have little overhead resistance.
Tim Hortons Inc. ( THI ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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