AutoCanada FY2024 EPS Forecast Boosted by Atb Cap Markets

AutoCanada Inc. (TSE:ACQ) – Equities research analysts at Atb Cap Markets upped their FY2024 earnings per share estimates for AutoCanada in a report issued on Thursday, November 14th. Atb Cap Markets analyst C. Murray now anticipates that the company will post earnings of ($0.43) per share for the year, up from their prior estimate of ($0.98). The consensus estimate for AutoCanada’s current full-year earnings is $2.43 per share. Atb Cap Markets also issued estimates for AutoCanada’s Q4 2024 earnings at $0.04 EPS, Q2 2025 earnings at $0.42 EPS, Q4 2025 earnings at $0.40 EPS, FY2025 earnings at $1.51 EPS, Q2 2026 earnings at $0.50 EPS and FY2026 earnings at $1.82 EPS.

A number of other brokerages have also recently commented on ACQ. National Bank Financial raised shares of AutoCanada from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Canaccord Genuity Group decreased their price target on AutoCanada from C$18.00 to C$15.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Cormark cut their price objective on shares of AutoCanada from C$25.50 to C$21.75 in a research report on Wednesday, August 14th. National Bankshares raised shares of AutoCanada from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$17.00 to C$21.00 in a report on Thursday, November 14th. Finally, BMO Capital Markets cut their price target on shares of AutoCanada from C$19.50 to C$19.00 in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of C$19.44.

AutoCanada Stock Down 0.8 %

ACQ stock opened at C$18.64 on Monday. The company has a market cap of C$432.26 million, a price-to-earnings ratio of -11.87, a price-to-earnings-growth ratio of 0.30 and a beta of 2.54. The company has a fifty day moving average price of C$15.73 and a 200 day moving average price of C$17.63. The company has a debt-to-equity ratio of 444.38, a current ratio of 1.03 and a quick ratio of 0.25. AutoCanada has a 12 month low of C$13.75 and a 12 month high of C$27.44.

Insider Activity

In other news, insider EdgePoint Investment Group Inc. purchased 11,400 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of C$14.33 per share, for a total transaction of C$163,349.46. In the last three months, insiders purchased 111,900 shares of company stock worth $1,670,917. Company insiders own 4.90% of the company’s stock.

AutoCanada Company Profile

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.