National Bank Financial Comments on Air Canada’s FY2024 Earnings (TSE:AC)

Air Canada (TSE:AC) – Research analysts at National Bank Financial reduced their FY2024 earnings per share estimates for shares of Air Canada in a report released on Wednesday, April 17th. National Bank Financial analyst C. Doerksen now anticipates that the company will post earnings of $2.71 per share for the year, down from their previous forecast of $2.95. The consensus estimate for Air Canada’s current full-year earnings is $2.95 per share.

Air Canada (TSE:AC) last released its quarterly earnings data on Friday, February 16th. The company reported C($0.12) EPS for the quarter, missing analysts’ consensus estimates of C($0.05) by C($0.07). The company had revenue of C$5.18 billion during the quarter, compared to analysts’ expectations of C$5.05 billion.

AC has been the topic of a number of other reports. Canaccord Genuity Group upped their price target on Air Canada from C$31.00 to C$32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. BMO Capital Markets restated a “buy” rating and set a C$32.00 price target on shares of Air Canada in a research note on Tuesday, February 20th. JPMorgan Chase & Co. upped their price target on Air Canada from C$38.00 to C$41.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Scotiabank decreased their price target on Air Canada from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Thursday, March 28th. Finally, National Bankshares set a C$31.00 price objective on Air Canada and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. One research analyst has 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 has an average rating of “Moderate Buy” and an average target price of C$30.35.

Air Canada Stock Performance

AC opened at C$19.58 on Friday. Air Canada has a one year low of C$16.04 and a one year high of C$26.04. The stock has a market capitalization of C$7.02 billion, a PE ratio of 3.29, a P/E/G ratio of 0.02 and a beta of 2.42. The business’s 50 day moving average price is C$18.71 and its 200 day moving average price is C$18.33. The company has a debt-to-equity ratio of 1,741.46, a quick ratio of 1.06 and a current ratio of 1.02.

Insiders Place Their Bets

In other Air Canada news, Senior Officer Mark Youssef Nasr bought 2,406 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was acquired at an average price of C$18.21 per share, for a total transaction of C$43,823.37. Corporate insiders own 0.17% of the company’s stock.

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.