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

AutoCanada Inc. (TSE:ACQ) – Equities research analysts at National Bank Financial dropped their Q3 2024 earnings per share estimates for shares of AutoCanada in a research report issued on Thursday, May 2nd. National Bank Financial analyst M. Sytchev now anticipates that the company will post earnings per share of $0.74 for the quarter, down from their prior 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 earnings results on Thursday, March 7th. The company reported C$0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.56 by C$0.13. AutoCanada had a net margin of 0.78% and a return on equity of 10.23%. The business had revenue of C$1.48 billion for the quarter, compared to analyst estimates of C$1.43 billion.

A number of other equities research analysts also recently weighed in on the company. CIBC downgraded AutoCanada from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from C$25.00 to C$18.00 in a research report on Friday. Scotiabank decreased their price objective on AutoCanada from C$28.00 to C$25.50 and set an “outperform” rating on the stock in a report on Monday. ATB Capital lowered AutoCanada from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$62.00 to C$25.00 in a research note on Friday. BMO Capital Markets decreased their price target on shares of AutoCanada from C$23.00 to C$21.00 in a research note on Monday. Finally, National Bankshares dropped their price objective on shares of AutoCanada from C$24.00 to C$22.00 and set a “sector perform” rating for the company in a research note on Friday. One 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’s stock. Based on data from MarketBeat, AutoCanada has an average rating of “Hold” and an average target price of C$23.00.

AutoCanada Stock Performance

TSE:ACQ opened at C$21.05 on Monday. The firm’s 50-day moving average is C$24.01 and its 200-day moving average is C$22.38. The company has a market cap of C$496.99 million, a price-to-earnings ratio of 10.22, a PEG ratio of 0.30 and a beta of 2.60. The company has a debt-to-equity ratio of 396.08, a quick ratio of 0.25 and a current ratio of 1.04. AutoCanada has a 52-week low of C$15.14 and a 52-week high of C$27.54.

Insider Activity

In other news, insider EdgePoint Investment Group Inc. purchased 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of C$23.92 per share, with a total value of C$89,694.38. In the last quarter, insiders have bought 34,650 shares of company stock worth $885,855. Corporate insiders own 4.70% of the company’s stock.

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.