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

AutoCanada Inc. (TSE:ACQ) – Analysts at Cormark dropped their Q3 2024 earnings per share (EPS) estimates for AutoCanada in a report issued on Wednesday, August 14th. Cormark analyst D. Ocampo now anticipates that the company will post earnings of ($0.03) per share for the quarter, down from their previous forecast of $0.50. The consensus estimate for AutoCanada’s current full-year earnings is $1.65 per share. Cormark also issued estimates for AutoCanada’s Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($1.73) EPS, Q1 2025 earnings at $0.00 EPS, Q2 2025 earnings at $0.75 EPS, Q3 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.12 EPS and FY2025 earnings at $1.21 EPS.

ACQ has been the topic of several other reports. ATB Capital reduced their price objective on AutoCanada from C$25.00 to C$20.00 in a research note on Wednesday. Atb Cap Markets downgraded shares of AutoCanada from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 3rd. BMO Capital Markets dropped their price objective on shares of AutoCanada from C$21.00 to C$19.50 and set a “market perform” rating on the stock in a research note on Wednesday. Acumen Capital decreased their target price on AutoCanada from C$21.50 to C$19.75 in a research note on Thursday. Finally, Scotiabank lowered their target price on AutoCanada from C$28.00 to C$25.50 and set an “outperform” rating for the company in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, AutoCanada has a consensus rating of “Hold” and an average price target of C$19.11.

AutoCanada Price Performance

Shares of ACQ opened at C$14.65 on Friday. AutoCanada has a 52 week low of C$14.20 and a 52 week high of C$27.54. The company has a current ratio of 1.05, a quick ratio of 0.25 and a debt-to-equity ratio of 408.35. The firm has a market cap of C$343.84 million, a price-to-earnings ratio of 8.93, a PEG ratio of 0.30 and a beta of 2.54. The stock has a 50 day moving average of C$18.97 and a 200-day moving average of C$21.36.

Insider Activity

In other news, Director Christopher Harris bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of C$14.48 per share, with a total value of C$72,400.00. Insiders purchased 8,000 shares of company stock worth $131,300 over the last three months. Corporate insiders own 4.79% 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.