Q3 2024 Earnings Estimate for Air Canada Issued By National Bank Financial (TSE:AC)

Air Canada (TSE:AC) – Analysts at National Bank Financial decreased their Q3 2024 EPS estimates for shares of Air Canada in a research note issued to investors on Tuesday, September 24th. National Bank Financial analyst C. Doerksen now anticipates that the company will post earnings per share of $1.30 for the quarter, down from their prior forecast of $1.40. The consensus estimate for Air Canada’s current full-year earnings is $2.83 per share. National Bank Financial also issued estimates for Air Canada’s FY2025 earnings at $2.08 EPS.

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

Several other equities research analysts also recently weighed in on AC. CIBC reduced their price target on shares of Air Canada from C$28.00 to C$25.00 and set an “outperform” rating for the company in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. reduced their price target on shares of Air Canada from C$41.00 to C$36.00 in a research report on Thursday, August 8th. Jefferies Financial Group decreased their target price on Air Canada from C$19.00 to C$16.00 and set a “hold” rating for the company in a research report on Monday, August 12th. ATB Capital decreased their target price on Air Canada from C$27.00 to C$26.50 and set an “outperform” rating for the company in a research report on Tuesday, September 10th. Finally, Cormark decreased their target price on Air Canada from C$25.50 to C$21.25 in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Air Canada currently has an average rating of “Moderate Buy” and a consensus price target of C$23.60.

Air Canada Price Performance

Shares of AC opened at C$16.52 on Thursday. The company has a market capitalization of C$5.92 billion, a P/E ratio of 3.69, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The company has a quick ratio of 1.06, a current ratio of 0.85 and a debt-to-equity ratio of 1,070.99. The firm has a 50 day moving average of C$15.82 and a 200 day moving average of C$17.55. Air Canada has a twelve month low of C$14.47 and a twelve month high of C$20.47.

Insiders Place Their Bets

In other news, Senior Officer Christophe Hennebelle acquired 1,900 shares of the company’s stock in a transaction on Friday, August 9th. The stock was bought at an average cost of C$15.70 per share, with a total value of C$29,830.00. 0.14% of the stock is currently owned by 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.