Research Analysts Set Expectations for Air Canada’s Q1 2024 Earnings (TSE:AC)

Air Canada (TSE:AC) – Analysts at National Bank Financial decreased their Q1 2024 EPS estimates for shares of Air Canada in a report issued on Wednesday, April 17th. National Bank Financial analyst C. Doerksen now anticipates that the company will post earnings of ($0.16) per share for the quarter, down from their previous forecast of ($0.14). The consensus estimate for Air Canada’s current full-year earnings is $2.95 per share. National Bank Financial also issued estimates for Air Canada’s FY2025 earnings at $2.97 EPS.

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

A number of other equities research analysts have also issued reports on AC. TD Securities upped their price objective on shares of Air Canada from C$30.00 to C$34.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Canaccord Genuity Group upped their price objective on shares of Air Canada from C$31.00 to C$32.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. National Bankshares set a C$31.00 price objective on shares of Air Canada and gave the company an “outperform” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. increased their target price on shares of Air Canada from C$38.00 to C$41.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Finally, Scotiabank lowered 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 research note on Thursday, March 28th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$30.35.

Air Canada Price Performance

Air Canada stock opened at C$19.58 on Monday. Air Canada has a 52-week low of C$16.04 and a 52-week high of C$26.04. The firm 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. The company has a fifty day simple moving average of C$18.71 and a 200-day simple moving average of C$18.32. The company has a quick ratio of 1.06, a current ratio of 1.02 and a debt-to-equity ratio of 1,741.46.

Insider Activity at Air Canada

In other news, Senior Officer Mark Youssef Nasr bought 2,406 shares of Air Canada stock in a transaction that occurred on Thursday, February 29th. The shares were purchased at an average price of C$18.21 per share, with a total value of C$43,823.37. 0.17% of the stock is owned by corporate insiders.

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.