Cormark Has Bullish Estimate for Air Canada FY2024 Earnings

Air Canada (TSE:AC) – Analysts at Cormark boosted their FY2024 earnings per share (EPS) estimates for shares of Air Canada in a research report issued on Monday, November 4th. Cormark analyst D. Ocampo now forecasts that the company will post earnings of $3.61 per share for the year, up from their previous estimate 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.

Air Canada (TSE:AC) last issued its quarterly earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share for the quarter, topping the consensus estimate of C$0.85 by C$0.13. Air Canada had a net margin of 7.92% and a return on equity of 603.77%. The company had revenue of C$5.52 billion for the quarter, compared to the consensus estimate of C$5.55 billion.

AC has been the topic of several other reports. Scotiabank upped their price target on shares of Air Canada from C$24.00 to C$26.50 in a report on Monday. Stifel Canada raised Air Canada from a “hold” rating to a “strong-buy” rating in a report on Sunday. Raymond James dropped their target price on Air Canada from C$28.00 to C$22.00 and set an “outperform” rating on the stock in a report on Tuesday, July 23rd. National Bankshares lifted their price target on Air Canada from C$22.00 to C$27.00 in a research report on Monday. Finally, Canaccord Genuity Group upped their price objective on Air Canada from C$25.00 to C$29.00 in a research report on Monday. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$25.25.

Air Canada Stock Up 4.4 %

AC stock opened at C$23.16 on Wednesday. The company has a market capitalization of C$8.30 billion, a P/E ratio of 5.17, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. Air Canada has a 12 month low of C$14.47 and a 12 month high of C$23.21. The firm’s fifty day simple moving average is C$17.12 and its 200-day simple moving average is C$17.45. 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.

Insider Buying and Selling at Air Canada

In other news, Senior Officer Christophe Hennebelle acquired 1,900 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost 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.