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

Air Canada (TSE:AC) – Analysts at National Bank Financial issued their Q2 2024 earnings per share estimates for Air Canada in a research note issued to investors on Thursday, May 2nd. National Bank Financial analyst C. Doerksen forecasts that the company will post earnings per share of $0.76 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.

A number of other research analysts have also weighed in on AC. BMO Capital Markets reissued a “buy” rating and issued a C$32.00 price objective on shares of Air Canada in a report on Tuesday, February 20th. ATB Capital increased their price objective on Air Canada from C$32.00 to C$33.00 in a report on Friday, May 3rd. National Bankshares cut their price objective on Air Canada from C$31.00 to C$30.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Scotiabank cut their price objective on Air Canada from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. increased their price objective on Air Canada from C$38.00 to C$41.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.12.

Air Canada Stock Down 1.6 %

Shares of AC stock opened at C$18.53 on Monday. The stock’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 quick ratio of 1.06 and a current ratio of 1.02. The firm has a market capitalization 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 has a fifty-two week low of C$16.04 and a fifty-two week high of C$26.04.

Air Canada (TSE:AC) last released its quarterly earnings results 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 business had revenue of C$5.18 billion during the quarter, compared to the consensus estimate of C$5.05 billion.

Insider Activity

In other news, Senior Officer Mark Youssef Nasr purchased 2,406 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average cost of C$18.21 per share, for a total transaction of C$43,823.37. Company insiders own 0.17% of the company’s stock.

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.