Cormark Has Bullish Estimate for Air Canada FY2024 Earnings

Air Canada (TSE:AC - Free Report) - Equities researchers at Cormark raised their FY2024 earnings estimates for shares of Air Canada in a report issued on Monday, November 4th. Cormark analyst D. Ocampo now forecasts that the company will post earnings per share of $3.61 for the year, up from their previous 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.

A number of other equities research analysts have also recently weighed in on AC. BMO Capital Markets lifted their price objective on shares of Air Canada from C$28.00 to C$29.00 in a research note on Monday. Raymond James decreased their price objective on shares of Air Canada from C$28.00 to C$22.00 and set an "outperform" rating for the company in a report on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their target price on Air Canada from C$32.00 to C$34.00 in a report on Monday. ATB Capital raised their target price on Air Canada from C$26.50 to C$28.00 in a research note on Monday. Finally, National Bankshares boosted their price target on shares of Air Canada from C$22.00 to C$27.00 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$25.25.

Air Canada Stock Performance

Air Canada stock traded up C$0.98 during mid-day trading on Wednesday, hitting C$23.16. 5,795,447 shares of the company's stock traded hands, compared to its average volume of 2,370,427. Air Canada has a one year low of C$14.47 and a one year high of C$23.21. The company has a market cap of C$8.30 billion, a PE ratio of 5.17, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The firm has a 50 day moving average price of C$17.12 and a 200 day moving average price of C$17.45. 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 (TSE:AC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.85 by C$0.13. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. The business had revenue of C$5.52 billion during the quarter, compared to the consensus estimate of C$5.55 billion.

Insider Buying and Selling at Air Canada

In other Air Canada news, Senior Officer Christophe Hennebelle purchased 1,900 shares of the firm's stock in a transaction on Friday, August 9th. The shares were purchased at an average price of C$15.70 per share, for a total transaction of C$29,830.00. Insiders own 0.14% 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.