Cormark Analysts Raise Earnings Estimates for Air Canada (TSE:AC)

Air Canada (TSE:AC) – Research analysts at Cormark raised their FY2024 earnings per share (EPS) estimates for Air Canada in a research report issued on Thursday, August 8th. Cormark analyst D. Ocampo now anticipates that the company will earn $2.68 per share for the year, up from their prior forecast of $2.55. The consensus estimate for Air Canada’s current full-year earnings is $3.19 per share. Cormark also issued estimates for Air Canada’s Q4 2024 earnings at ($0.32) EPS, Q1 2025 earnings at ($0.05) EPS, Q2 2025 earnings at $1.20 EPS, Q4 2025 earnings at ($0.43) EPS, FY2025 earnings at $3.02 EPS and FY2026 earnings at $2.89 EPS.

Several other brokerages also recently weighed in on AC. Jefferies Financial Group dropped their price objective on Air Canada from C$19.00 to C$16.00 and set a “hold” rating for the company in a research report on Monday. Scotiabank reduced their price target on shares of Air Canada from C$27.00 to C$21.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. CIBC lowered 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. National Bankshares dropped 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 note on Monday, July 22nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Air Canada from C$41.00 to C$36.00 in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Air Canada has an average rating of “Moderate Buy” and an average target price of C$24.38.

Air Canada Price Performance

Shares of TSE:AC opened at C$15.33 on Monday. The firm has a 50 day moving average of C$16.82 and a 200-day moving average of C$18.07. Air Canada has a 12 month low of C$14.47 and a 12 month high of C$23.81. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,767.66. The stock has a market capitalization of C$5.50 billion, a PE ratio of 2.66, a PEG ratio of 0.02 and a beta of 2.40.

Insider Buying and Selling at Air Canada

In related news, Senior Officer Christophe Hennebelle acquired 1,900 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of C$15.70 per share, for a total transaction of C$29,830.00. Corporate insiders own 0.17% of the company’s stock.

Air Canada Company Profile

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.