FY2024 Earnings Forecast for Air Canada (TSE:AC) Issued By National Bank Financial

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

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of 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. National Bankshares set a C$31.00 target price on shares of Air Canada and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. ATB Capital decreased their target price on shares of Air Canada from C$33.00 to C$32.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 20th. Scotiabank reduced their price target on shares of Air Canada from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a research report on Thursday, March 28th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a C$32.00 price target on shares of Air Canada in a research report on Tuesday, February 20th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.35.

Air Canada Trading Up 1.4 %

AC opened at C$19.58 on Friday. 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. The company’s 50 day simple moving average is C$18.68 and its two-hundred day simple moving average is C$18.33. Air Canada has a 1-year low of C$16.04 and a 1-year high of C$26.04. The firm has a market capitalization of C$7.02 billion, a price-to-earnings ratio of 3.29, a price-to-earnings-growth ratio of 0.02 and a beta of 2.42.

Air Canada (TSE:AC) last released its earnings results on Friday, February 16th. The company reported C($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.05) by C($0.07). The business 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 stock was purchased 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 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.