National Bank Financial Comments on Air Canada’s FY2024 Earnings (TSE:AC)

Air Canada (TSE:AC) – Stock analysts at National Bank Financial reduced their FY2024 EPS estimates for Air Canada in a research report issued on Wednesday, April 17th. National Bank Financial analyst C. Doerksen now forecasts that the company will post earnings per share of $2.71 for the year, down from their previous forecast of $2.95. The consensus estimate for Air Canada’s current full-year earnings is $2.95 per share.

Air Canada (TSE:AC) last issued its earnings results on Friday, February 16th. The company reported C($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.05) by C($0.07). The company had revenue of C$5.18 billion for the quarter, compared to analysts’ expectations of C$5.05 billion.

A number of other analysts have also recently weighed in on the stock. ATB Capital reduced their target price on shares of Air Canada from C$33.00 to C$32.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. Royal Bank of Canada set a C$18.00 target price on shares of Air Canada and gave the stock a “sector perform” rating in a report on Thursday, April 4th. TD Securities raised their target price on shares of Air Canada from C$30.00 to C$34.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Scotiabank reduced their target price on shares of Air Canada from C$30.00 to C$29.00 and set an “outperform” rating for the company in a report on Thursday, March 28th. Finally, BMO Capital Markets restated a “buy” rating and issued a C$32.00 price target on shares of Air Canada in a research report on Tuesday, February 20th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Air Canada presently has a consensus rating of “Moderate Buy” and an average price target of C$30.35.

Air Canada Stock Performance

Shares of TSE:AC opened at C$19.58 on Friday. The stock has a market capitalization of C$7.02 billion, a price-to-earnings ratio of 3.29, a PEG ratio of 0.02 and a beta of 2.42. Air Canada has a 1-year low of C$16.04 and a 1-year high of C$26.04. The company has a debt-to-equity ratio of 1,741.46, a quick ratio of 1.06 and a current ratio of 1.02. The company has a 50 day moving average price of C$18.71 and a 200 day moving average price of C$18.33.

Insiders Place Their Bets

In related news, Senior Officer Mark Youssef Nasr bought 2,406 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was bought at an average price of C$18.21 per share, for a total transaction of C$43,823.37. 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.