FY2024 Earnings Estimate for Air Canada Issued By Scotiabank

Air Canada (TSE:AC - Free Report) - Research analysts at Scotiabank increased their FY2024 earnings estimates for shares of Air Canada in a report released on Wednesday, January 8th. Scotiabank analyst K. Gupta now anticipates that the company will post earnings per share of $3.50 for the year, up from their previous forecast of $2.63. Scotiabank has a "Outperform" rating and a $29.00 price objective on the stock. The consensus estimate for Air Canada's current full-year earnings is $2.58 per share. Scotiabank also issued estimates for Air Canada's FY2025 earnings at $2.04 EPS.

Other equities analysts have also issued research reports about the company. Stifel Canada upgraded Air Canada from a "hold" rating to a "strong-buy" rating in a research note on Sunday, November 3rd. JPMorgan Chase & Co. lifted their target price on Air Canada from C$32.00 to C$34.00 in a research report on Monday, November 4th. BMO Capital Markets increased their target price on shares of Air Canada from C$29.00 to C$31.00 in a report on Wednesday, December 18th. Canaccord Genuity Group lifted their price target on shares of Air Canada from C$25.00 to C$29.00 in a report on Monday, November 4th. Finally, Citigroup lowered their price objective on shares of Air Canada from C$28.50 to C$26.50 and set a "buy" rating for the company in a research report on Monday, December 30th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$26.60.

Air Canada Price Performance

TSE:AC traded down C$0.10 during mid-day trading on Friday, reaching C$21.91. The stock had a trading volume of 3,502,203 shares, compared to its average volume of 2,544,638. Air Canada has a 12 month low of C$14.47 and a 12 month high of C$26.18. The stock has a market capitalization of C$7.85 billion, a PE ratio of 4.89, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a debt-to-equity ratio of 1,070.99, a current ratio of 0.85 and a quick ratio of 1.06. The stock has a 50-day simple moving average of C$23.46 and a two-hundred day simple moving average of C$19.00.

Insider Buying and Selling

In other Air Canada news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the firm's stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of C$21.71, for a total transaction of C$130,246.80. 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.