FY2024 Earnings Forecast for Air Canada (TSE:AC) Issued By National Bank Financial

Air Canada (TSE:AC) – Stock analysts at National Bank Financial cut their FY2024 earnings per share (EPS) estimates for shares of Air Canada in a research report issued to clients and investors on Wednesday, April 17th. National Bank Financial analyst C. Doerksen now forecasts that the company will earn $2.71 per share for the year, down from their previous forecast of $2.95. The consensus estimate for Air Canada’s current full-year earnings is $2.95 per share.

Other research analysts have also issued research reports about the company. Royal Bank of Canada set a C$18.00 price objective on Air Canada and gave the company a “sector perform” rating in a research report on Thursday, April 4th. Scotiabank cut their target price on Air Canada from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Thursday, March 28th. BMO Capital Markets reiterated a “buy” rating and set a C$32.00 target price on shares of Air Canada in a research note on Tuesday, February 20th. National Bankshares set a C$31.00 price target on Air Canada and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. raised their price target on Air Canada from C$38.00 to C$41.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Air Canada presently has an average rating of “Moderate Buy” and an average price target of C$30.35.

Air Canada Stock Up 1.4 %

Shares of TSE:AC opened at C$19.58 on Friday. Air Canada has a 52-week low of C$16.04 and a 52-week high of C$26.04. The firm has a market capitalization of C$7.02 billion, a P/E ratio of 3.29, a P/E/G ratio of 0.02 and a beta of 2.42. The stock has a 50 day moving average price of C$18.68 and a 200-day moving average price of C$18.33. 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.

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 analyst estimates of C$5.05 billion.

Insider Transactions at Air Canada

In other news, Senior Officer Mark Youssef Nasr bought 2,406 shares of Air Canada stock in a transaction dated Thursday, February 29th. The shares were purchased at an average cost of C$18.21 per share, with a total value of C$43,823.37. 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.