Research Analysts Set Expectations for AutoCanada Inc.’s FY2018 Earnings (ACQ)

AutoCanada Inc. (TSE:ACQ) – Stock analysts at Cormark dropped their FY2018 EPS estimates for shares of AutoCanada in a note issued to investors on Monday, according to Zacks Investment Research. Cormark analyst M. Macdougall now expects that the company will post earnings of $2.28 per share for the year, down from their previous estimate of $2.60.

Several other analysts have also recently issued reports on ACQ. Scotiabank reiterated a “sector perform” rating and set a C$22.00 target price on shares of AutoCanada in a research report on Thursday, March 23rd. AltaCorp Capital reiterated an “outperform” rating on shares of AutoCanada in a research report on Monday, March 20th. Royal Bank of Canada cut AutoCanada from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from C$24.00 to C$26.00 in a research report on Thursday, February 2nd. Finally, CIBC cut their price target on AutoCanada from C$22.00 to C$20.00 in a report on Monday, March 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of C$21.25.

Earnings History and Estimates for AutoCanada (TSE:ACQ)

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AutoCanada (TSE:ACQ) traded down 0.13% during midday trading on Thursday, hitting $23.03. The stock had a trading volume of 61,752 shares. AutoCanada has a 52 week low of $18.55 and a 52 week high of $27.90. The firm has a market cap of $630.01 million and a price-to-earnings ratio of 255.89. The firm has a 50 day moving average of $22.83 and a 200 day moving average of $23.25.

In related news, Director Barry Lee James purchased 1,895 shares of the business’s stock in a transaction dated Wednesday, March 22nd. The shares were acquired at an average cost of C$21.10 per share, for a total transaction of C$39,984.50.

AutoCanada Company Profile

AutoCanada Inc (AutoCanada) is a Canada-based multi-location automobile dealership company. The Company offers a diversified range of automotive products and services, including new vehicles, used vehicles, vehicle leasing, vehicle parts, vehicle maintenance and collision repair services, extended service contracts, vehicle protection products and other after-market products.

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