Brokers Offer Predictions for Air Canada FY2024 Earnings

Air Canada (TSE:AC) – Analysts at Atb Cap Markets upped their FY2024 earnings estimates for Air Canada in a report issued on Sunday, November 3rd. Atb Cap Markets analyst C. Murray now forecasts that the company will post earnings per share of $3.18 for the year, up from their prior estimate of $1.87. The consensus estimate for Air Canada’s current full-year earnings is $2.58 per share. Atb Cap Markets also issued estimates for Air Canada’s Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at ($0.50) EPS, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $2.12 EPS, Q4 2025 earnings at ($0.19) EPS and FY2026 earnings at $2.24 EPS.

AC has been the subject of several other research reports. Jefferies Financial Group lifted their target price on shares of Air Canada from C$18.00 to C$22.00 in a research note on Tuesday. Citigroup lifted 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 note on Tuesday, October 15th. Stifel Nicolaus upgraded shares of Air Canada from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$20.00 to C$25.50 in a research note on Monday. Raymond James reduced 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 note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Air Canada from C$32.00 to C$34.00 in a research report on Monday. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$25.27.

Air Canada Price Performance

AC opened at C$22.18 on Wednesday. The company has a market capitalization of C$7.95 billion, a price-to-earnings ratio of 4.95, a PEG 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. The firm has a 50-day moving average price of C$16.97 and a 200-day moving average price of C$17.42. Air Canada has a twelve month low of C$14.47 and a twelve month high of C$22.25.

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

Insider Buying and Selling at Air Canada

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