Atb Cap Markets Comments on Air Canada’s Q2 2024 Earnings (TSE:AC)

Air Canada (TSE:AC) – Analysts at Atb Cap Markets decreased their Q2 2024 EPS estimates for shares of Air Canada in a research note issued to investors on Monday, July 22nd. Atb Cap Markets analyst C. Murray now anticipates that the company will post earnings per share of $0.57 for the quarter, down from their prior forecast of $0.82. The consensus estimate for Air Canada’s current full-year earnings is $3.19 per share. Atb Cap Markets also issued estimates for Air Canada’s Q3 2024 earnings at $1.56 EPS, Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at $1.67 EPS, Q1 2025 earnings at ($0.29) EPS, Q2 2025 earnings at $0.64 EPS, Q3 2025 earnings at $1.82 EPS, Q4 2025 earnings at ($0.09) EPS and FY2025 earnings at $2.08 EPS.

A number of other analysts have also weighed in on the stock. CIBC reduced their price objective on shares of Air Canada from C$28.00 to C$25.00 and set an “outperform” rating for the company in a research note on Tuesday. ATB Capital decreased their price objective on shares of Air Canada from C$33.00 to C$28.00 and set an “outperform” rating for the company in a report on Tuesday. Royal Bank of Canada lowered their price objective on 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. National Bankshares reduced their target price on Air Canada from C$28.00 to C$24.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Finally, Cormark lowered their price target on Air Canada from C$25.50 to C$21.25 in a report on Tuesday. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$25.52.

Air Canada Price Performance

Shares of TSE:AC opened at C$16.16 on Thursday. The company has a market capitalization of C$5.79 billion, a PE ratio of 2.80, a PEG ratio of 0.02 and a beta of 2.40. The business has a fifty day moving average price of C$17.52 and a 200-day moving average price of C$18.35. Air Canada has a 1-year low of C$15.93 and a 1-year high of C$24.76. The company has a debt-to-equity ratio of 1,767.66, a current ratio of 0.85 and a quick ratio of 1.06.

Air Canada (TSE:AC) last posted its quarterly earnings results on Thursday, May 2nd. The company reported C($0.27) earnings per share for the quarter, missing the consensus estimate of C($0.15) by C($0.12). The company had revenue of C$5.23 billion during the quarter, compared to the consensus estimate of C$5.13 billion.

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.