Air Canada to Post Q1 2024 Earnings of ($0.16) Per Share, National Bank Financial Forecasts (TSE:AC)

Air Canada (TSE:AC) – Research analysts at National Bank Financial reduced their Q1 2024 EPS estimates for shares of Air Canada in a research note issued to investors on Wednesday, April 17th. National Bank Financial analyst C. Doerksen now anticipates that the company will earn ($0.16) per share for the quarter, down from their previous estimate of ($0.14). The consensus estimate for Air Canada’s current full-year earnings is $2.95 per share. National Bank Financial also issued estimates for Air Canada’s FY2025 earnings at $2.97 EPS.

Air Canada (TSE:AC) last announced its quarterly earnings results on Friday, February 16th. The company reported C($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.05) by C($0.07). The business had revenue of C$5.18 billion for the quarter, compared to analysts’ expectations of C$5.05 billion.

Several other equities analysts have also recently issued reports on AC. TD Securities upped their price target on shares of Air Canada from C$30.00 to C$34.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Canaccord Genuity Group increased their price objective on shares of Air Canada from C$31.00 to C$32.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Air Canada from C$38.00 to C$41.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. BMO Capital Markets reiterated a “buy” rating and set a C$32.00 price objective on shares of Air Canada in a research report on Tuesday, February 20th. Finally, National Bankshares set a C$31.00 price objective on shares of Air Canada and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Air Canada presently has an average rating of “Moderate Buy” and a consensus price target of C$30.35.

Air Canada Trading Up 0.5 %

Shares of TSE AC opened at C$20.00 on Monday. 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 has a 52-week low of C$16.04 and a 52-week high of C$26.04. The firm has a 50 day moving average price of C$18.77 and a two-hundred day moving average price of C$18.34. The stock has a market cap of C$7.17 billion, a P/E ratio of 3.36, a price-to-earnings-growth ratio of 0.02 and a beta of 2.42.

Insider Buying and Selling

In related news, Senior Officer Mark Youssef Nasr bought 2,406 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average cost of C$18.21 per share, with a total value of C$43,823.37. 0.17% of the stock is 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.