AutoCanada Q3 EPS Reduced by National Bank Financial

AutoCanada Inc. (TSE:ACQ) – Research analysts at National Bank Financial dropped their Q3 2024 earnings estimates for AutoCanada in a research report issued on Monday, October 21st. National Bank Financial analyst M. Sytchev now expects 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 research analysts have also issued reports about the company. Cormark lowered their price objective on AutoCanada from C$25.50 to C$21.75 in a research note on Wednesday, August 14th. Acumen Capital lowered their target price on shares of AutoCanada from C$21.50 to C$19.75 in a report on Thursday, August 15th. CIBC dropped their price objective on shares of AutoCanada from C$18.00 to C$15.50 and set an “underperform” rating for the company in a report on Wednesday, August 14th. Canaccord Genuity Group reduced their target price on AutoCanada from C$18.00 to C$15.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Finally, ATB Capital decreased their target price on AutoCanada from C$25.00 to C$20.00 in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$19.11.

AutoCanada Price Performance

TSE:ACQ opened at C$15.41 on Thursday. The company has a 50-day moving average of C$15.32 and a 200-day moving average of C$18.73. The company has a market capitalization of C$357.36 million, a price-to-earnings ratio of -9.82, a PEG ratio of 0.30 and a beta of 2.54. AutoCanada has a 52 week low of C$13.75 and a 52 week high of C$27.54. The company has a debt-to-equity ratio of 444.38, a quick ratio of 0.25 and a current ratio of 1.03.

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

Insider Buying and Selling at AutoCanada

In other AutoCanada news, insider EdgePoint Investment Group Inc. acquired 27,200 shares of AutoCanada 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. In other news, Director Christopher Harris acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of C$14.48 per share, for a total transaction of C$72,400.00. Also, insider EdgePoint Investment Group Inc. bought 27,200 shares of the business’s stock in a transaction on Friday, September 20th. The stock was purchased at an average price of C$15.47 per share, for a total transaction of C$420,900.96. In the last three months, insiders have acquired 124,500 shares of company stock worth $1,852,256. 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.