Analysts Set Expectations for AutoCanada Inc.’s Q3 2024 Earnings (TSE:ACQ)

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

Other equities analysts have also recently issued reports about the stock. CIBC cut shares of AutoCanada from a “neutral” rating to an “underperform” rating and cut their target price for the company from C$25.00 to C$18.00 in a research note on Friday. National Bankshares decreased their target price on AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating on the stock in a research report on Friday. BMO Capital Markets dropped their price target on AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating for the company in a research note on Friday, March 8th. ATB Capital downgraded AutoCanada from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$62.00 to C$25.00 in a research note on Friday. Finally, Scotiabank increased their target price on AutoCanada from C$26.00 to C$28.00 and gave the company an “outperform” rating in a research report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$23.50.

AutoCanada Trading Down 1.2 %

AutoCanada stock opened at C$20.33 on Monday. 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 firm’s 50 day moving average price is C$24.01 and its 200-day moving average price is C$22.40. AutoCanada has a 1 year low of C$15.14 and a 1 year high of C$27.54. The stock has a market cap of C$479.99 million, a P/E ratio of 9.87, a PEG ratio of 0.30 and a beta of 2.60.

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

Insider Activity

In other news, insider EdgePoint Investment Group Inc. acquired 21,200 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were acquired at an average price of C$26.64 per share, for a total transaction of C$564,865.52. In the last 90 days, insiders have purchased 34,650 shares of company stock valued at $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.