FY2024 Earnings Estimate for Air Canada Issued By Cormark

Air Canada (TSE:AC) – Research analysts at Cormark lifted their FY2024 earnings estimates for Air Canada in a report issued on Monday, November 4th. Cormark analyst D. Ocampo now expects that the company will post earnings per share of $3.61 for the year, up from their prior forecast of $2.68. The consensus estimate for Air Canada’s current full-year earnings is $2.58 per share. Cormark also issued estimates for Air Canada’s Q4 2024 earnings at $0.26 EPS, Q1 2025 earnings at $0.02 EPS, Q3 2025 earnings at $2.83 EPS, Q4 2025 earnings at $0.04 EPS and FY2025 earnings at $4.21 EPS.

Air Canada (TSE:AC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, topping analysts’ consensus estimates of C$0.85 by C$0.13. The firm had revenue of C$5.52 billion during the quarter, compared to analysts’ expectations of C$5.55 billion. Air Canada had a net margin of 7.92% and a return on equity of 603.77%.

A number of other research analysts have also recently commented on AC. Royal Bank of Canada cut their price target on shares of Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 23rd. Stifel Canada raised shares of Air Canada from a “hold” rating to a “strong-buy” rating in a report on Sunday. ATB Capital raised their price objective on shares of Air Canada from C$26.50 to C$28.00 in a report on Monday. Jefferies Financial Group raised their price objective on shares of Air Canada from C$18.00 to C$22.00 in a report on Tuesday. Finally, Canaccord Genuity Group raised their price objective on shares of Air Canada from C$25.00 to C$29.00 in a report on Monday. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$25.27.

Air Canada Stock Up 2.0 %

Shares of AC opened at C$22.18 on Wednesday. The stock has a market cap of C$7.95 billion, a price-to-earnings ratio of 4.95, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a quick ratio of 1.06, a current ratio of 0.85 and a debt-to-equity ratio of 1,070.99. Air Canada has a 12 month low of C$14.47 and a 12 month high of C$22.25. The company has a 50-day moving average price of C$16.97 and a two-hundred day moving average price of C$17.42.

Insider Activity at Air Canada

In other Air Canada news, Senior Officer Christophe Hennebelle acquired 1,900 shares of Air Canada stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of C$15.70 per share, with a total value of C$29,830.00. 0.14% of the stock is currently owned by company insiders.

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.