National Bank Financial Comments on Air Canada’s Q2 2024 Earnings (TSE:AC)

Air Canada (TSE:AC) – Equities research analysts at National Bank Financial lifted their Q2 2024 EPS estimates for Air Canada in a report released on Tuesday, July 2nd. National Bank Financial analyst C. Doerksen now anticipates that the company will earn $0.88 per share for the quarter, up from their prior estimate of $0.76. The consensus estimate for Air Canada’s current full-year earnings is $3.19 per share. National Bank Financial also issued estimates for Air Canada’s FY2024 earnings at $2.55 EPS and FY2025 earnings at $2.62 EPS.

Several other brokerages have also weighed in on AC. Scotiabank dropped their price objective on shares of Air Canada from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. National Bankshares dropped their price objective on shares of Air Canada from C$30.00 to C$28.00 and set an “outperform” rating on the stock in a report on Wednesday. Royal Bank of Canada set a C$18.00 target price on shares of Air Canada and gave the stock a “sector perform” rating in a report on Thursday, April 4th. TD Securities lowered their target price on shares of Air Canada from C$34.00 to C$33.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Finally, ATB Capital upped their target price on shares of Air Canada from C$32.00 to C$33.00 in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$29.18.

Air Canada Price Performance

Shares of TSE AC opened at C$17.57 on Thursday. The firm’s 50-day moving average price is C$18.25 and its 200-day moving average price is C$18.53. Air Canada has a 1-year low of C$16.04 and a 1-year high of C$26.04. The firm has a market capitalization of C$6.30 billion, a P/E ratio of 3.04, a P/E/G ratio of 0.02 and a beta of 2.40. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,767.66.

Air Canada (TSE:AC) last announced its quarterly earnings data on Thursday, May 2nd. The company reported C($0.27) earnings per share for the quarter, missing the consensus estimate of C($0.15) by C($0.12). The firm had revenue of C$5.23 billion for the quarter, compared to analysts’ expectations of C$5.13 billion.

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.