Air Canada (AC) to Release Earnings on Wednesday

Air Canada (TSE:AC) is set to announce its earnings results before the market opens on Wednesday, August 7th. Analysts expect the company to announce earnings of C$0.87 per share for the quarter.

Air Canada (TSE:AC) last posted its quarterly earnings data on Thursday, May 2nd. The company reported C($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.15) by C($0.12). The company had revenue of C$5.23 billion for the quarter, compared to analyst estimates of C$5.13 billion.

Air Canada Stock Performance

TSE AC opened at C$15.91 on Thursday. The company has a debt-to-equity ratio of 1,767.66, a quick ratio of 1.06 and a current ratio of 0.85. The company has a market capitalization of C$5.70 billion, a PE ratio of 2.76, a price-to-earnings-growth ratio of 0.02 and a beta of 2.40. Air Canada has a 52-week low of C$15.77 and a 52-week high of C$24.60. The company has a 50-day simple moving average of C$17.36 and a 200 day simple moving average of C$18.27.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Raymond James cut their target price on shares of Air Canada from C$28.00 to C$22.00 and set an “outperform” rating for the company in a research report on Tuesday, July 23rd. National Bankshares cut their price objective on shares of Air Canada from C$28.00 to C$24.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. CIBC cut their price objective on shares of Air Canada from C$28.00 to C$25.00 and set an “outperform” rating for the company in a research report on Tuesday, July 23rd. Scotiabank cut their price objective on shares of Air Canada from C$27.00 to C$21.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Finally, TD Securities cut their price objective on shares of Air Canada from C$25.00 to C$19.00 in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$25.02.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names in the Canadian market, the Canada-U.S. transborder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.