Atb Cap Markets Comments on Air Canada’s Q3 2024 Earnings (TSE:AC)

Air Canada (TSE:AC) – Stock analysts at Atb Cap Markets lowered their Q3 2024 earnings per share (EPS) estimates for Air Canada in a report issued on Monday, September 9th. Atb Cap Markets analyst C. Murray now forecasts that the company will post earnings of $1.38 per share for the quarter, down from their prior estimate of $1.60. The consensus estimate for Air Canada’s current full-year earnings is $2.82 per share. Atb Cap Markets also issued estimates for Air Canada’s Q4 2024 earnings at ($0.22) EPS, FY2024 earnings at $1.87 EPS, Q1 2025 earnings at ($0.21) EPS, Q2 2025 earnings at $0.62 EPS, Q3 2025 earnings at $1.63 EPS, Q4 2025 earnings at ($0.17) EPS and FY2025 earnings at $1.89 EPS.

Air Canada (TSE:AC) last announced its earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of C$5.52 billion for the quarter, compared to the consensus estimate of C$5.55 billion.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. dropped their price target on shares of Air Canada from C$41.00 to C$36.00 in a research report on Thursday, August 8th. National Bankshares dropped their target price on Air Canada from C$28.00 to C$24.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Royal Bank of Canada reduced their price objective on shares of Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 23rd. Raymond James decreased their target price on Air Canada from C$28.00 to C$22.00 and set an “outperform” rating on the stock in a report on Tuesday, July 23rd. Finally, Scotiabank reduced their target price on Air Canada from C$27.00 to C$21.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Air Canada currently has an average rating of “Moderate Buy” and a consensus target price of C$23.75.

Air Canada Price Performance

The company has a market capitalization of C$5.68 billion, a PE ratio of 3.54, a P/E/G ratio of 0.02 and a beta of 2.39. The company’s fifty day moving average is C$15.97 and its 200-day moving average is C$17.64. Air Canada has a one year low of C$14.47 and a one year high of C$20.96. 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.

Insider Transactions at Air Canada

In related news, Senior Officer Christophe Hennebelle bought 1,900 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired 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 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.