22:47:47 EDT Fri 10 May 2024
Enter Symbol
or Name
USA
CA



AutoCanada Inc
Symbol ACQ
Shares Issued 24,509,683
Close 2015-05-01 C$ 38.94
Market Cap C$ 954,407,056
Recent Sedar Documents

Inv Reporter refreshes AutoCanada buy

2015-05-01 21:29 ET - In the News

The Investment Reporter, in its April 24, 2015, issue, refreshes its buy of AutoCanada Inc., recently $33.87. The Reporter said buy three times from May 10, 2013, to Nov. 28, 2014, at prices ranging from $22.60 to $54.31. Assuming an investment of $1,000 for each of the three buys, the $3,000 position would now be worth $2,912. The car dealership operator earned an adjusted $51.6-million ($2.23 a share) in 2014, up from an adjusted $38.2-million ($1.82 a share) in 2013. The improved results reflect acquisitions and higher same-store sales and earnings. In 2015, the company will face more obstacles. The plunge in oil prices has led to layoffs and lower consumer confidence, resulting in lower vehicle sales across the country. A second problem has been the weather. Central Canada was in a deep freeze in February, and Atlantic Canada faced record snowfall this winter. To help face these headwinds, the company decided against raising its quarterly dividend for the first time in a long time. It currently pays a $1 annual dividend, which is a yield of 3 per cent. AutoCanada is expected to earn $2.41 a share this year and $3.12 a share next year. The stock remains a buy for share price recovery and attractive dividends.

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