Q3 2024 EPS Estimates for AutoCanada Inc. Cut by Analyst (TSE:ACQ)

AutoCanada Inc. (TSE:ACQ) – Equities research analysts at National Bank Financial cut their Q3 2024 earnings estimates for AutoCanada in a report released on Thursday, May 2nd. National Bank Financial analyst M. Sytchev now expects that the company will post earnings per share of $0.74 for the quarter, down from their previous forecast of $0.86. The consensus estimate for AutoCanada’s current full-year earnings is $3.04 per share.

AutoCanada (TSE:ACQ) last announced its quarterly earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.56 by C$0.13. The business had revenue of C$1.48 billion for the quarter, compared to the consensus estimate of C$1.43 billion. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%.

ACQ has been the topic of a number of other reports. ATB Capital cut shares of AutoCanada from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from C$62.00 to C$25.00 in a report on Friday, May 3rd. CIBC downgraded AutoCanada from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from C$25.00 to C$18.00 in a research report on Friday, May 3rd. Scotiabank lowered their price objective on AutoCanada from C$28.00 to C$25.50 and set an “outperform” rating for the company in a research report on Monday. BMO Capital Markets dropped their target price on AutoCanada from C$23.00 to C$21.00 in a research note on Monday. Finally, Acumen Capital cut AutoCanada from a “speculative buy” rating to a “hold” rating and decreased their price target for the company from C$24.50 to C$21.50 in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$23.00.

AutoCanada Price Performance

ACQ opened at C$21.05 on Monday. The firm has a market capitalization of C$496.99 million, a PE ratio of 10.22, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60. The company has a debt-to-equity ratio of 396.08, a current ratio of 1.04 and a quick ratio of 0.25. The business’s 50-day moving average is C$24.01 and its two-hundred day moving average is C$22.36. AutoCanada has a 1 year low of C$15.14 and a 1 year high of C$27.54.

Insider Buying and Selling at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. bought 21,200 shares of AutoCanada stock in a transaction that occurred on Tuesday, March 19th. The stock was purchased at an average price of C$26.64 per share, with a total value of C$564,865.52. In the last 90 days, insiders have bought 34,650 shares of company stock worth $885,855. 4.70% of the stock is currently owned by insiders.

About AutoCanada

AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships and related business. 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, and extended service contracts; and vehicle protection, after-market products, and auction services.