Q3 EPS Estimates for AutoCanada Reduced by Analyst

AutoCanada Inc. (TSE:ACQ) – Equities researchers at National Bank Financial lowered their Q3 2024 earnings estimates for shares of AutoCanada in a report issued on Monday, October 21st. National Bank Financial analyst M. Sytchev now anticipates that the company will post earnings per share of ($0.02) for the quarter, down from their previous estimate of $0.39. The consensus estimate for AutoCanada’s current full-year earnings is $2.43 per share. National Bank Financial also issued estimates for AutoCanada’s Q4 2024 earnings at $0.03 EPS and FY2025 earnings at $1.69 EPS.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada cut their price objective on shares of AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating on the stock 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 report on Wednesday, August 14th. National Bankshares reduced their price target on shares of AutoCanada from C$20.00 to C$17.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 14th. Canaccord Genuity Group reduced their price target on shares of AutoCanada from C$18.00 to C$15.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Finally, Acumen Capital reduced their price target on shares of AutoCanada from C$21.50 to C$19.75 in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, AutoCanada has a consensus rating of “Hold” and an average target price of C$19.11.

AutoCanada Price Performance

ACQ opened at C$15.28 on Thursday. The company has a debt-to-equity ratio of 444.38, a current ratio of 1.03 and a quick ratio of 0.25. The company has a market capitalization of C$354.34 million, a price-to-earnings ratio of -9.73, a P/E/G ratio of 0.30 and a beta of 2.54. The firm’s fifty day moving average price is C$15.33 and its two-hundred day moving average price is C$18.66. AutoCanada has a 1 year low of C$13.75 and a 1 year high of C$27.54.

AutoCanada (TSE:ACQ) last posted its quarterly earnings data on Tuesday, August 13th. The company reported C($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.34 by C($1.30). The firm had revenue of C$1.60 billion for the quarter, compared to analysts’ expectations of C$1.62 billion. AutoCanada had a negative return on equity of 6.62% and a negative net margin of 0.59%.

Insider Buying and Selling at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. acquired 37,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were acquired at an average cost of C$14.98 per share, with a total value of C$554,400.60. In other news, Director Christopher Harris purchased 5,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of C$14.48 per share, with a total value of C$72,400.00. Also, insider EdgePoint Investment Group Inc. purchased 37,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was purchased at an average cost of C$14.98 per share, for a total transaction of C$554,400.60. Insiders have acquired a total of 124,500 shares of company stock valued at $1,852,256 over the last three months. 4.90% of the stock is currently owned by insiders.

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.