Cormark Has Positive Outlook of Air Canada FY2024 Earnings

Air Canada (TSE:ACFree Report) – Equities researchers at Cormark boosted their FY2024 earnings per share estimates for Air Canada in a report released on Monday, November 4th. Cormark analyst D. Ocampo now anticipates that the company will earn $3.61 per share for the year, up from their prior forecast of $2.68. The consensus estimate for Air Canada’s current full-year earnings is $2.58 per share. Cormark also issued estimates for Air Canada’s Q4 2024 earnings at $0.26 EPS, Q1 2025 earnings at $0.02 EPS, Q3 2025 earnings at $2.83 EPS, Q4 2025 earnings at $0.04 EPS and FY2025 earnings at $4.21 EPS.

A number of other brokerages have also recently issued reports on AC. JPMorgan Chase & Co. upped their target price on Air Canada from C$32.00 to C$34.00 in a research report on Monday. Canaccord Genuity Group increased their price objective on Air Canada from C$25.00 to C$29.00 in a research report on Monday. TD Cowen increased their price objective on Air Canada to C$25.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup increased their price objective on Air Canada from C$20.00 to C$21.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada reduced their price objective on Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$25.25.

Read Our Latest Research Report on AC

Air Canada Stock Down 0.1 %

Shares of Air Canada stock opened at C$23.14 on Wednesday. The stock has a market capitalization of C$8.30 billion, a P/E ratio of 5.17, a PEG ratio of 0.02 and a beta of 2.39. The company has a quick ratio of 1.06, a current ratio of 0.85 and a debt-to-equity ratio of 1,070.99. The stock has a 50 day moving average price of C$17.12 and a two-hundred day moving average price of C$17.45. Air Canada has a 12-month low of C$14.47 and a 12-month high of C$23.70.

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

Air Canada Company Profile

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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.

See Also

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

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