FY2024 EPS Estimates for Air Canada Raised by Stifel Canada

Air Canada (TSE:AC) – Equities researchers at Stifel Canada boosted their FY2024 earnings per share (EPS) estimates for Air Canada in a research report issued on Sunday, November 3rd. Stifel Canada analyst D. Young now expects that the company will post earnings of $3.71 per share for the year, up from their previous forecast of $2.52. Stifel Canada has a “Strong-Buy” rating on the stock. The consensus estimate for Air Canada’s current full-year earnings is $2.58 per share. Stifel Canada also issued estimates for Air Canada’s Q4 2024 earnings at $0.43 EPS and FY2025 earnings at $3.47 EPS.

Several other research firms also recently weighed in on AC. Citigroup boosted their price target on shares of Air Canada from C$20.00 to C$21.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Cormark increased their target price on Air Canada from C$21.75 to C$26.75 in a report on Monday. Stifel Nicolaus upgraded Air Canada from a “hold” rating to a “buy” rating and raised their price target for the stock from C$20.00 to C$25.50 in a research report on Monday. Canaccord Genuity Group boosted their price objective on Air Canada from C$25.00 to C$29.00 in a research report on Monday. Finally, National Bankshares raised their target price on shares of Air Canada from C$22.00 to C$27.00 in a report on Monday. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$25.25.

Air Canada Price Performance

Shares of Air Canada stock opened at C$23.16 on Wednesday. The business’s 50-day moving average price is C$17.12 and its 200-day moving average price is C$17.45. The firm has a market capitalization of C$8.30 billion, a PE 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 company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99.

Air Canada (TSE:AC) last released its earnings results on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, beating analysts’ consensus estimates of C$0.85 by C$0.13. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. The business had revenue of C$5.52 billion for the quarter, compared to analysts’ expectations of C$5.55 billion.

Insider Buying and Selling at Air Canada

In related news, Senior Officer Christophe Hennebelle acquired 1,900 shares of Air Canada stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of C$15.70 per share, with a total value of C$29,830.00. Insiders own 0.14% of the company’s stock.

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.