Atb Cap Markets Weighs in on Air Canada’s Q3 2024 Earnings (TSE:AC)

Air Canada (TSE:AC) – Equities research analysts at Atb Cap Markets lowered their Q3 2024 earnings per share (EPS) estimates for Air Canada in a report released on Monday, September 9th. Atb Cap Markets analyst C. Murray now expects that the company will post earnings per share of $1.38 for the quarter, down from their previous forecast of $1.60. The consensus estimate for Air Canada’s current full-year earnings is $2.82 per share. Atb Cap Markets also issued estimates for Air Canada’s Q4 2024 earnings at ($0.22) EPS, FY2024 earnings at $1.87 EPS, Q1 2025 earnings at ($0.21) EPS, Q2 2025 earnings at $0.62 EPS, Q3 2025 earnings at $1.63 EPS, Q4 2025 earnings at ($0.17) EPS and FY2025 earnings at $1.89 EPS.

A number of other equities research analysts have also recently issued reports on AC. Raymond James dropped their price objective on Air Canada from C$28.00 to C$22.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 23rd. CIBC decreased their price objective on shares of Air Canada from C$28.00 to C$25.00 and set an “outperform” rating for the company in a research report on Tuesday, July 23rd. Cormark lowered their price objective on shares of Air Canada from C$25.50 to C$21.25 in a research note on Tuesday, July 23rd. TD Securities cut their target price on shares of Air Canada from C$25.00 to C$19.00 in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. dropped their price objective on Air Canada from C$41.00 to C$36.00 in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$23.75.

Air Canada Trading Up 1.9 %

AC opened at C$15.70 on Thursday. Air Canada has a twelve month low of C$14.47 and a twelve month high of C$20.97. The firm has a market cap of C$5.63 billion, a PE ratio of 3.50, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The company has a debt-to-equity ratio of 1,070.99, a quick ratio of 1.06 and a current ratio of 0.85. The firm’s fifty day moving average is C$15.97 and its two-hundred day moving average is C$17.64.

Air Canada (TSE:AC) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of C$5.55 billion.

Insider Buying and Selling

In other news, Senior Officer Christophe Hennebelle bought 1,900 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of C$15.70 per share, for a total transaction of C$29,830.00. 0.14% of the stock is owned by company 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.