What is Cormark’s Forecast for Air Canada FY2024 Earnings?

Air Canada (TSE:AC) – Equities researchers at Cormark upped their FY2024 earnings per share (EPS) estimates for shares of Air Canada in a research note issued to investors on Monday, November 4th. Cormark analyst D. Ocampo now forecasts that the company will post earnings of $3.61 per share for the year, up from their previous forecast of $2.68. The consensus estimate for Air Canada’s current full-year earnings is $2.58 per share. Cormark also issued estimates for Air Canada’s Q4 2024 earnings at $0.26 EPS, Q1 2025 earnings at $0.02 EPS, Q3 2025 earnings at $2.83 EPS, Q4 2025 earnings at $0.04 EPS and FY2025 earnings at $4.21 EPS.

Several other research analysts have also weighed in on AC. Canaccord Genuity Group increased their price objective on Air Canada from C$25.00 to C$29.00 in a research report on Monday. Stifel Canada upgraded Air Canada from a “hold” rating to a “strong-buy” rating in a report on Sunday. TD Securities reduced their price objective on shares of Air Canada from C$25.00 to C$19.00 in a report on Wednesday, July 24th. Royal Bank of Canada decreased their target price on shares of Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 23rd. Finally, Raymond James dropped their price target on shares of Air Canada from C$28.00 to C$22.00 and set an “outperform” rating for the company in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$25.25.

Air Canada Stock Up 4.4 %

Shares of TSE AC opened at C$23.16 on Wednesday. The company has a market capitalization of C$8.30 billion, a P/E ratio of 5.17, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a debt-to-equity ratio of 1,070.99, a current ratio of 0.85 and a quick ratio of 1.06. The company has a 50 day simple moving average of C$17.12 and a 200-day simple moving average of C$17.45. Air Canada has a 1 year low of C$14.47 and a 1 year high of C$23.21.

Air Canada (TSE:AC) last posted 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 net margin of 7.92% and a return on equity of 603.77%. The company had revenue of C$5.52 billion for the quarter, compared to analyst estimates of C$5.55 billion.

Insider Transactions at Air Canada

In other Air Canada news, Senior Officer Christophe Hennebelle acquired 1,900 shares of the stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of C$15.70 per share, with a total value of C$29,830.00. Corporate insiders own 0.14% 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.