FY2024 Earnings Estimate for Air Canada Issued By Cormark

Air Canada (TSE:AC) – Equities researchers at Cormark upped their FY2024 EPS estimates for Air Canada in a research note issued to investors on Monday, November 4th. Cormark analyst D. Ocampo now forecasts that the company will earn $3.61 per share for the year, up from their prior estimate 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 posted its quarterly earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.85 by C$0.13. Air Canada had a net margin of 7.92% and a return on equity of 603.77%. The business had revenue of C$5.52 billion for the quarter, compared to the consensus estimate of C$5.55 billion.

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Air Canada from C$28.00 to C$29.00 in a research note on Monday. Citigroup increased their target price on shares of Air Canada from C$20.00 to C$21.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Scotiabank increased their target price on shares of Air Canada from C$24.00 to C$26.50 in a research report on Monday. Raymond James lowered their target price on shares of Air Canada from C$28.00 to C$22.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 23rd. Finally, National Bankshares increased their target price on shares of Air Canada from C$22.00 to C$27.00 in a research report on Monday. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$25.27.

Air Canada Trading Up 2.0 %

TSE AC opened at C$22.18 on Wednesday. Air Canada has a 1-year low of C$14.47 and a 1-year high of C$22.25. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99. The company has a market capitalization of C$7.95 billion, a PE ratio of 4.95, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The firm’s fifty day simple moving average is C$16.97 and its 200-day simple moving average is C$17.42.

Insider Activity at Air Canada

In related news, Senior Officer Christophe Hennebelle bought 1,900 shares of Air Canada stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of C$15.70 per share, for a total transaction of C$29,830.00. 0.14% of the stock is owned by corporate 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.