National Bank Financial Analysts Cut Earnings Estimates for Air Canada (AC)

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Air Canada (TSE:AC) – Research analysts at National Bank Financial reduced their FY2020 earnings per share estimates for Air Canada in a report released on Thursday, April 11th. National Bank Financial analyst C. Doerksen now anticipates that the company will earn $3.41 per share for the year, down from their previous forecast of $3.61. National Bank Financial has a “Outperform” rating and a $44.00 price objective on the stock.

Other research analysts have also recently issued research reports about the stock. Cowen boosted their price objective on shares of Air Canada from C$39.00 to C$41.00 in a research report on Monday, March 4th. Royal Bank of Canada boosted their price objective on shares of Air Canada from C$36.00 to C$43.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Canaccord Genuity boosted their price objective on shares of Air Canada from C$40.00 to C$45.00 in a research report on Monday, March 4th. BMO Capital Markets boosted their price objective on shares of Air Canada from C$42.00 to C$45.00 in a research report on Tuesday, February 19th. Finally, CIBC boosted their price objective on shares of Air Canada from C$42.00 to C$46.00 in a research report on Tuesday, February 19th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of C$41.91.

Shares of AC opened at C$31.95 on Monday. Air Canada has a fifty-two week low of C$20.33 and a fifty-two week high of C$35.50. The firm has a market capitalization of $8.81 billion and a P/E ratio of 53.25. The company has a current ratio of 1.24, a quick ratio of 1.08 and a debt-to-equity ratio of 164.94.

Air Canada (TSE:AC) last announced its quarterly earnings results on Friday, February 15th. The company reported C$0.20 earnings per share for the quarter, topping the consensus estimate of C$0.17 by C$0.03. The business had revenue of C$4.25 billion during the quarter, compared to the consensus estimate of C$4.20 billion.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand name 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.

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Earnings History and Estimates for Air Canada (TSE:AC)

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