Air Canada (TSE:AC) Expected to Post Q2 2024 Earnings of $0.76 Per Share

Air Canada (TSE:AC) – Analysts at National Bank Financial issued their Q2 2024 earnings estimates for Air Canada in a note issued to investors on Thursday, May 2nd. National Bank Financial analyst C. Doerksen forecasts that the company will earn $0.76 per share for the quarter. The consensus estimate for Air Canada’s current full-year earnings is $2.90 per share. National Bank Financial also issued estimates for Air Canada’s FY2024 earnings at $2.67 EPS and FY2025 earnings at $2.89 EPS.

Air Canada (TSE:AC) last announced its quarterly earnings results on Friday, February 16th. The company reported C($0.12) earnings per share for the quarter, missing the consensus estimate of C($0.05) by C($0.07). The firm had revenue of C$5.18 billion for the quarter, compared to analysts’ expectations of C$5.05 billion.

A number of other analysts have also recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Air Canada from C$31.00 to C$32.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. TD Securities cut their price target on shares of Air Canada from C$34.00 to C$33.00 and set a “buy” rating on the stock in a report on Friday. ATB Capital upped their price target on Air Canada from C$32.00 to C$33.00 in a research report on Friday. Scotiabank lowered their price objective on Air Canada from C$30.00 to C$29.00 and set an “outperform” rating for the company in a research report on Thursday, March 28th. Finally, Royal Bank of Canada set a C$18.00 target price on Air Canada and gave the company a “sector perform” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$30.12.

Air Canada Price Performance

AC opened at C$18.76 on Monday. The firm has a market capitalization of C$6.72 billion, a PE ratio of 3.15, a price-to-earnings-growth ratio of 0.02 and a beta of 2.42. The company has a debt-to-equity ratio of 1,741.46, a current ratio of 1.02 and a quick ratio of 1.06. The business’s 50-day moving average is C$19.01 and its two-hundred day moving average is C$18.43. Air Canada has a 1 year low of C$16.04 and a 1 year high of C$26.04.

Insider Activity

In other news, Senior Officer Mark Youssef Nasr acquired 2,406 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was bought at an average cost of C$18.21 per share, for a total transaction of C$43,823.37. Company insiders own 0.17% of the company’s stock.

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.