AutoCanada Inc. (TSE:ACQ) – Cormark reduced their FY2018 earnings estimates for AutoCanada in a research note issued on Monday, August 13th. Cormark analyst M. Macdougall now expects that the company will earn $1.08 per share for the year, down from their previous forecast of $1.51. Cormark has a “Market Perform” rating and a $19.00 price target on the stock. Cormark also issued estimates for AutoCanada’s FY2019 earnings at $1.26 EPS.
Other equities research analysts have also recently issued reports about the company. Clarus Securities reiterated a “buy” rating on shares of AutoCanada in a research note on Friday, August 3rd. Canaccord Genuity cut AutoCanada from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$27.00 to C$11.00 in a research note on Monday. Royal Bank of Canada lowered their target price on AutoCanada from C$25.00 to C$18.00 and set an “outperform” rating on the stock in a research note on Monday. National Bank Financial lowered their target price on AutoCanada from C$29.50 to C$25.00 and set an “outperform” rating on the stock in a research note on Monday, May 7th. Finally, CIBC cut AutoCanada from an “outperform” rating to an “outperform ? neutral” rating and set a C$27.00 target price on the stock. in a research note on Monday, May 7th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of C$18.75.
In other news, insider Steven Landry acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 8th. The stock was bought at an average price of C$16.34 per share, with a total value of C$65,360.00.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 15th. Stockholders of record on Friday, August 31st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Thursday, August 30th.
AutoCanada Company Profile
AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, and New Brunswick. The company offers a range of automotive products and services, including new and used vehicles, vehicle leasing, vehicle parts, vehicle maintenance and collision repair services, extended service contracts, vehicle protection products, and other after-market products.
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