Q3 2024 EPS Estimates for Air Canada Decreased by Analyst (TSE:AC)

Air Canada (TSE:AC) – Equities researchers at National Bank Financial decreased their Q3 2024 EPS estimates for shares of Air Canada in a research report issued to clients and investors on Tuesday, September 24th. National Bank Financial analyst C. Doerksen now anticipates that the company will post earnings of $1.30 per share for the quarter, down from their previous estimate of $1.40. The consensus estimate for Air Canada’s current full-year earnings is $2.83 per share. National Bank Financial also issued estimates for Air Canada’s FY2025 earnings at $2.08 EPS.

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

Other equities research analysts have also recently issued reports about the company. ATB Capital decreased their price target on Air Canada from C$27.00 to C$26.50 and set an “outperform” rating for the company in a research note on Tuesday, September 10th. Scotiabank decreased their price target on shares of Air Canada from C$27.00 to C$21.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Citigroup dropped their price objective on shares of Air Canada from C$25.00 to C$21.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their target price on Air Canada from C$41.00 to C$36.00 in a research note on Thursday, August 8th. Finally, CIBC dropped their price target on Air Canada from C$28.00 to C$25.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$23.60.

Air Canada Stock Performance

Shares of AC opened at C$16.67 on Thursday. 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. The firm has a market cap of C$5.98 billion, a PE ratio of 3.72, a P/E/G 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$20.47. The stock has a fifty day moving average price of C$15.84 and a 200-day moving average price of C$17.56.

Insider Activity at Air Canada

In other news, Senior Officer Christophe Hennebelle purchased 1,900 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of C$15.70 per share, with a total value of C$29,830.00. 0.14% of the stock is owned by company insiders.

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.