AutoCanada Inc. (TSE:ACQ) – Equities researchers at Cormark raised their FY2020 EPS estimates for AutoCanada in a research note issued on Monday, November 11th. Cormark analyst M. Macdougall now forecasts that the company will post earnings of $1.36 per share for the year, up from their prior estimate of $1.09.
Several other brokerages have also commented on ACQ. Clarus Securities restated a “buy” rating on shares of AutoCanada in a research note on Friday, August 9th. CIBC upped their price target on AutoCanada from C$11.00 to C$12.00 in a research note on Monday. Finally, AltaCorp Capital upgraded AutoCanada from a “sector perform” rating to an “outperform” rating in a research note on Sunday, August 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. AutoCanada currently has an average rating of “Hold” and an average target price of C$12.00.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.40 annualized dividend and a yield of 3.71%. AutoCanada’s dividend payout ratio is presently -29.20%.
AutoCanada Inc, through its subsidiaries, operates franchised automobile dealerships in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, and New Brunswick. 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, extended service contracts, vehicle protection products, and other after-market products.
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