AutoCanada Inc. (TSE:ACQ) Forecasted to Earn FY2024 Earnings of $2.44 Per Share

AutoCanada Inc. (TSE:ACQFree Report) – Research analysts at Cormark cut their FY2024 EPS estimates for shares of AutoCanada in a note issued to investors on Tuesday, March 19th. Cormark analyst D. Ocampo now anticipates that the company will post earnings per share of $2.44 for the year, down from their prior forecast of $2.45. The consensus estimate for AutoCanada’s current full-year earnings is $3.03 per share.

Several other research firms have also issued reports on ACQ. CIBC reduced their price objective on shares of AutoCanada from C$22.50 to C$22.00 and set a “neutral” rating for the company in a research note on Friday, March 8th. National Bankshares cut their target price on shares of AutoCanada from C$24.50 to C$22.00 and set a “sector perform” rating for the company in a research report on Friday, March 8th. Acumen Capital cut their target price on shares of AutoCanada from C$33.00 to C$24.50 and set a “speculative buy” rating for the company in a research report on Friday, March 8th. BMO Capital Markets cut their target price on shares of AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating for the company in a research report on Friday, March 8th. Finally, Scotiabank boosted their target price on shares of AutoCanada from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, AutoCanada presently has a consensus rating of “Hold” and an average target price of C$27.65.

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AutoCanada Trading Down 2.3 %

Shares of TSE:ACQ opened at C$25.52 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 1.04 and a debt-to-equity ratio of 396.08. AutoCanada has a 12-month low of C$15.14 and a 12-month high of C$27.54. The firm has a fifty day moving average of C$22.16 and a two-hundred day moving average of C$22.50. The firm has a market capitalization of C$602.53 million, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60.

Insider Transactions at AutoCanada

In related news, insider EdgePoint Investment Group Inc. acquired 3,750 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were bought at an average price of C$23.92 per share, for a total transaction of C$89,694.38. Insiders own 4.46% of the company’s stock.

About AutoCanada

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AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships. 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, and vehicle protection, after-market products, and auction services.

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Earnings History and Estimates for AutoCanada (TSE:ACQ)

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