AutoCanada (ACQ) to Release Quarterly Earnings on Thursday

AutoCanada (TSE:ACQ) will be announcing its earnings results before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of C$0.40 per share for the quarter.

AutoCanada (TSE:ACQ) last released its quarterly earnings data on Thursday, March 7th. The company reported C$0.69 earnings per share for the quarter, beating the consensus estimate of C$0.56 by C$0.13. AutoCanada had a return on equity of 10.23% and a net margin of 0.78%. The business had revenue of C$1.48 billion for the quarter, compared to analysts’ expectations of C$1.43 billion.

AutoCanada Trading Down 0.2 %

TSE:ACQ opened at C$24.16 on Wednesday. AutoCanada has a fifty-two week low of C$15.14 and a fifty-two week high of C$27.54. The company has a debt-to-equity ratio of 396.08, a current ratio of 1.04 and a quick ratio of 0.25. The stock has a market capitalization of C$570.42 million, a PE ratio of 11.73, a price-to-earnings-growth ratio of 0.30 and a beta of 2.60. The business’s 50-day simple moving average is C$23.97 and its 200-day simple moving average is C$22.47.

Insider Activity

In other AutoCanada news, insider EdgePoint Investment Group Inc. purchased 21,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was bought at an average cost of C$26.64 per share, with a total value of C$564,865.52. Insiders have purchased 34,650 shares of company stock worth $885,855 over the last 90 days. 4.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ACQ shares. Scotiabank boosted their price target on AutoCanada from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Friday, March 8th. CIBC boosted their target price on AutoCanada from C$22.00 to C$25.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Acumen Capital reduced their price target on AutoCanada from C$33.00 to C$24.50 and set a “speculative buy” rating for the company in a research note on Friday, March 8th. Cormark set a C$35.00 price target on AutoCanada in a research note on Tuesday, March 19th. Finally, BMO Capital Markets cut their target price on AutoCanada from C$24.00 to C$23.00 and set a “market perform” rating for the company in a research report on Friday, March 8th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$27.95.

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.