Q3 2024 EPS Estimates for Air Canada (TSE:AC) Decreased by National Bank Financial

Air Canada (TSE:AC) – Investment analysts at National Bank Financial decreased their Q3 2024 earnings per share estimates for shares of Air Canada in a research report issued on Tuesday, September 24th. National Bank Financial analyst C. Doerksen now forecasts that the company will post earnings of $1.30 per share for the quarter, down from their prior estimate of $1.40. The consensus estimate for Air Canada’s current full-year earnings is $2.83 per share. National Bank Financial also issued estimates for Air Canada’s FY2025 earnings at $2.08 EPS.

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

A number of other analysts also recently issued reports on AC. TD Securities reduced their price objective on Air Canada from C$25.00 to C$19.00 in a research note on Wednesday, July 24th. Jefferies Financial Group reduced their price objective on Air Canada from C$19.00 to C$16.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. 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 on the stock in a research note on Tuesday, July 23rd. Citigroup reduced their price objective on Air Canada from C$25.00 to C$21.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Cormark cut their target price on Air Canada from C$25.50 to C$21.25 in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Air Canada currently has an average rating of “Moderate Buy” and a consensus price target of C$23.60.

Air Canada Price Performance

The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99. Air Canada has a 12 month low of C$14.47 and a 12 month high of C$20.47. The business has a 50-day moving average price of C$15.84 and a 200 day moving average price of C$17.56. The company has a market cap of C$5.78 billion, a P/E ratio of 3.60, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39.

Insider Buying and Selling at Air Canada

In other Air Canada news, Senior Officer Christophe Hennebelle acquired 1,900 shares of the business’s stock in a transaction on Friday, August 9th. The shares were bought at an average price of C$15.70 per share, with a total value of C$29,830.00. 0.14% of the stock is currently owned by corporate insiders.

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.