Q3 EPS Estimates for AutoCanada Reduced by Analyst

AutoCanada Inc. (TSE:ACQ) – Equities researchers at National Bank Financial cut their Q3 2024 earnings estimates for AutoCanada in a research note issued to investors on Monday, October 21st. National Bank Financial analyst M. Sytchev now expects that the company will earn ($0.02) per share 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.

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

Other research analysts have also recently issued reports about the stock. 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. Royal Bank of Canada reduced their price target on shares of AutoCanada from C$21.00 to C$18.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. Canaccord Genuity Group cut their target price on shares of AutoCanada from C$18.00 to C$15.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. National Bankshares cut their target price on shares of AutoCanada from C$20.00 to C$17.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Finally, Cormark cut their target price on shares of AutoCanada from C$25.50 to C$21.75 in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, AutoCanada has an average rating of “Hold” and a consensus target price of C$19.11.

AutoCanada Stock Down 0.8 %

Shares of TSE ACQ opened at C$15.28 on Thursday. AutoCanada has a one year low of C$13.75 and a one year high of C$27.54. 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 firm’s 50 day simple moving average is C$15.33 and its two-hundred day simple moving average is C$18.66. The stock has a market capitalization of C$354.34 million, a P/E ratio of -9.73, a PEG ratio of 0.30 and a beta of 2.54.

Insider Buying and Selling

In other AutoCanada news, Director Christopher Harris purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of C$14.48 per share, with a total value of C$72,400.00. In other news, Director Christopher Harris acquired 5,000 shares of the stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of C$14.48 per share, with a total value of C$72,400.00. Also, insider EdgePoint Investment Group Inc. acquired 27,200 shares of the stock in a transaction on Friday, September 20th. The shares were purchased at an average cost of C$15.47 per share, with a total value of C$420,900.96. Insiders acquired 124,500 shares of company stock valued at $1,852,256 over the last quarter. 4.90% of the stock is owned by company 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.