Air Canada (TSE:AC) to Post Q2 2022 Earnings of ($1.11) Per Share, National Bank Financial Forecasts

Air Canada (TSE:AC – Get Rating) – Stock analysts at National Bank Financial issued their Q2 2022 earnings per share estimates for Air Canada in a research report issued to clients and investors on Tuesday, April 26th. National Bank Financial analyst C. Doerksen anticipates that the company will earn ($1.11) per share for the quarter. National Bank Financial also issued estimates for Air Canada’s FY2022 earnings at ($3.46) EPS and FY2023 earnings at $0.82 EPS.

Air Canada (TSE:AC – Get Rating) last issued its earnings results on Friday, February 18th. The company reported C($1.26) earnings per share for the quarter, beating the consensus estimate of C($1.27) by C$0.01. The business had revenue of C$2.73 billion for the quarter, compared to analyst estimates of C$2.41 billion.

AC has been the topic of several other reports. BMO Capital Markets reissued a “buy” rating and set a C$35.00 target price on shares of Air Canada in a research note on Wednesday. Citigroup increased their price objective on Air Canada from C$23.50 to C$24.50 and gave the stock a “buy” rating in a research report on Wednesday, April 6th. Cormark cut their target price on shares of Air Canada to C$25.00 and set a “market perform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Air Canada from C$31.00 to C$29.00 in a report on Tuesday, April 12th. Finally, CIBC increased their price objective on shares of Air Canada from C$33.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 22nd. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$29.70.

TSE AC opened at C$23.01 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.37 and a debt-to-equity ratio of 183,588.89. The firm’s fifty day moving average price is C$23.19 and its two-hundred day moving average price is C$22.98. Air Canada has a 1 year low of C$19.31 and a 1 year high of C$29.17. The firm has a market capitalization of C$8.23 billion and a P/E ratio of -2.24.

In other news, Director Michael Stewart Rousseau sold 18,868 shares of the stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of C$23.61, for a total transaction of C$445,473.48. Following the sale, the director now directly owns 103,303 shares of the company’s stock, valued at C$2,438,983.83. Also, Senior Officer Amos Kazzaz sold 4,909 shares of the stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of C$21.49, for a total value of C$105,494.41. Following the completion of the transaction, the insider now directly owns 11,076 shares in the company, valued at approximately C$238,023.24. Over the last three months, insiders sold 24,265 shares of company stock valued at $562,602.

Air Canada Company Profile (Get Rating)

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand name 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.

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