FY2024 Earnings Forecast for Air Canada Issued By Scotiabank

Air Canada (TSE:AC) – Research analysts at Scotiabank boosted their FY2024 earnings per share estimates for Air Canada in a research report issued on Wednesday, January 8th. Scotiabank analyst K. Gupta now anticipates that the company will earn $3.50 per share for the year, up from their prior estimate of $2.63. Scotiabank currently has a “Outperform” rating and a $29.00 target price on the stock. The consensus estimate for Air Canada’s current full-year earnings is $2.58 per share. Scotiabank also issued estimates for Air Canada’s FY2025 earnings at $2.04 EPS.

Several other equities research analysts have also commented on the stock. Citigroup cut their price target on shares of Air Canada from C$28.50 to C$26.50 and set a “buy” rating on the stock in a research note on Monday, December 30th. Jefferies Financial Group lifted their price target on Air Canada from C$22.00 to C$23.00 in a research note on Monday, January 6th. National Bankshares boosted their price target on Air Canada from C$22.00 to C$27.00 in a research note on Monday, November 4th. Cormark raised their target price on shares of Air Canada from C$26.75 to C$29.50 in a report on Wednesday, December 18th. Finally, Stifel Canada upgraded Air Canada from a “hold” rating to a “strong-buy” rating in a research report on Sunday, November 3rd. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$26.60.

Air Canada Trading Down 0.5 %

TSE AC opened at C$21.91 on Friday. Air Canada has a 52 week low of C$14.47 and a 52 week high of C$26.18. The stock has a market capitalization of C$7.85 billion, a PE ratio of 4.89, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The company has a quick ratio of 1.06, a current ratio of 0.85 and a debt-to-equity ratio of 1,070.99. The firm has a 50 day moving average of C$23.46 and a two-hundred day moving average of C$19.00.

Insiders Place Their Bets

In related news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of C$21.71, for a total transaction of C$130,246.80. 0.14% of the stock is currently owned by 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.