Equities Analysts Issue Forecasts for Air Canada’s Q1 2024 Earnings (TSE:AC)

Air Canada (TSE:AC) – Analysts at National Bank Financial lowered their Q1 2024 earnings per share estimates for shares of Air Canada in a note issued to investors on Wednesday, April 17th. National Bank Financial analyst C. Doerksen now forecasts that the company will post earnings of ($0.16) per share for the quarter, down from their prior 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.

Several other equities research analysts have also issued reports on AC. Canaccord Genuity Group lifted their price objective on Air Canada from C$31.00 to C$32.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. boosted their price objective on Air Canada from C$38.00 to C$41.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. BMO Capital Markets reaffirmed a “buy” rating and issued a C$32.00 target price on shares of Air Canada in a research note on Tuesday, February 20th. ATB Capital cut their price target on shares of Air Canada from C$33.00 to C$32.00 and set an “outperform” rating for the company in a research note on Tuesday, February 20th. Finally, National Bankshares set a C$31.00 price target on shares of Air Canada and gave the stock an “outperform” rating in a report on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Air Canada has an average rating of “Moderate Buy” and an average target price of C$30.35.

Air Canada Stock Up 1.6 %

Shares of TSE:AC opened at C$19.90 on Monday. The firm has a fifty day moving average price of C$18.74 and a two-hundred day moving average price of C$18.33. The company has a market cap of C$7.13 billion, a price-to-earnings ratio of 3.34, a PEG ratio of 0.02 and a beta of 2.42. The company has a debt-to-equity ratio of 1,741.46, a current ratio of 1.02 and a quick ratio of 1.06. Air Canada has a one year low of C$16.04 and a one year high of C$26.04.

Air Canada (TSE:AC) last released its quarterly earnings data on Friday, February 16th. The company reported C($0.12) 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 the consensus estimate of C$5.05 billion.

Insider Buying and Selling

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