Analysts Set Expectations for Air Canada FY2024 Earnings

Air Canada (TSE:AC) – Investment analysts at Stifel Canada issued their FY2024 earnings per share (EPS) estimates for shares of Air Canada in a report issued on Tuesday, October 15th. Stifel Canada analyst D. Young expects that the company will post earnings per share of $2.52 for the year. Stifel Canada has a “Hold” rating on the stock. The consensus estimate for Air Canada’s current full-year earnings is $2.58 per share. Stifel Canada also issued estimates for Air Canada’s FY2025 earnings at $2.80 EPS.

Air Canada (TSE:AC) last announced its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of C$5.55 billion.

A number of other research firms have also recently issued reports on AC. BMO Capital Markets lowered their price objective on shares of Air Canada from C$33.00 to C$28.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lowered their price objective on Air Canada from C$41.00 to C$36.00 in a research note on Thursday, August 8th. TD Securities cut their target price on shares of Air Canada from C$25.00 to C$19.00 in a research report on Wednesday, July 24th. Cormark reduced their target price on shares of Air Canada from C$25.50 to C$21.25 in a report on Tuesday, July 23rd. Finally, CIBC dropped their price target on shares of Air Canada from C$28.00 to C$25.00 and set an “outperform” rating for the company in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$23.70.

Air Canada Price Performance

Air Canada stock opened at C$18.28 on Friday. The stock has a market capitalization of C$6.55 billion, a P/E ratio of 4.08, 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. Air Canada has a 52 week low of C$14.47 and a 52 week high of C$20.47. The stock has a fifty day moving average of C$15.99 and a 200-day moving average of C$17.40.

Insider Activity

In related news, Senior Officer Christophe Hennebelle acquired 1,900 shares of Air Canada stock in a transaction dated Friday, August 9th. The stock was bought at an average price 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.

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.