Brokers Set Expectations for Air Canada’s Q2 2024 Earnings (TSE:AC)

Air Canada (TSE:AC) – Equities researchers at National Bank Financial issued their Q2 2024 EPS estimates for shares of Air Canada in a note issued to investors on Thursday, May 2nd. National Bank Financial analyst C. Doerksen forecasts that the company will post earnings of $0.76 per share for the quarter. The consensus estimate for Air Canada’s current full-year earnings is $2.90 per share. National Bank Financial also issued estimates for Air Canada’s FY2024 earnings at $2.67 EPS and FY2025 earnings at $2.89 EPS.

Several other equities research analysts also recently commented on AC. National Bankshares cut their target price on shares of Air Canada from C$31.00 to C$30.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. CIBC dropped their price target on shares of Air Canada from C$30.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. ATB Capital boosted their price target on shares of Air Canada from C$32.00 to C$33.00 in a research report on Friday, May 3rd. TD Securities dropped their price target on shares of Air Canada from C$34.00 to C$33.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Finally, Royal Bank of Canada set a C$18.00 price target on shares of Air Canada and gave the stock a “sector perform” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Air Canada currently has an average rating of “Moderate Buy” and an average price target of C$30.12.

Air Canada Stock Down 1.6 %

TSE:AC opened at C$18.53 on Monday. The firm’s 50 day simple moving average is C$19.02 and its 200 day simple moving average is C$18.45. The company has a debt-to-equity ratio of 1,741.46, a current ratio of 1.02 and a quick ratio of 1.06. Air Canada has a one year low of C$16.04 and a one year high of C$26.04. The company has a market cap of C$6.64 billion, a PE ratio of 3.11, a P/E/G ratio of 0.02 and a beta of 2.42.

Air Canada (TSE:AC) last posted its earnings results on Friday, February 16th. The company reported C($0.12) EPS for the quarter, missing the consensus estimate of C($0.05) by C($0.07). The company had revenue of C$5.18 billion for the quarter, compared to analyst estimates of C$5.05 billion.

Insider Activity at Air Canada

In related news, Senior Officer Mark Youssef Nasr bought 2,406 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average price of C$18.21 per share, for a total transaction of C$43,823.37. 0.17% of the stock is owned by corporate 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.