Atb Cap Markets Raises Earnings Estimates for Air Canada

Air Canada (TSE:AC) – Equities researchers at Atb Cap Markets increased their FY2024 earnings estimates for shares of Air Canada in a research report issued on Sunday, November 3rd. Atb Cap Markets analyst C. Murray now forecasts that the company will post earnings of $3.18 per share for the year, up from their previous estimate of $1.87. The consensus estimate for Air Canada’s current full-year earnings is $2.58 per share. Atb Cap Markets also issued estimates for Air Canada’s Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at ($0.50) EPS, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $2.12 EPS, Q4 2025 earnings at ($0.19) EPS and FY2026 earnings at $2.24 EPS.

Air Canada (TSE:AC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of C$5.55 billion.

AC has been the subject of several other research reports. Jefferies Financial Group increased their target price on Air Canada from C$18.00 to C$22.00 in a research note on Tuesday. Stifel Canada raised shares of Air Canada from a “hold” rating to a “strong-buy” rating in a report on Sunday. TD Securities decreased their price target on shares of Air Canada from C$25.00 to C$19.00 in a research report on Wednesday, July 24th. TD Cowen upped their price objective on shares of Air Canada to C$25.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Scotiabank lifted their target price on Air Canada from C$24.00 to C$26.50 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$25.25.

Air Canada Price Performance

Shares of Air Canada stock opened at C$23.16 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99. The firm has a fifty day simple moving average of C$17.12 and a 200-day simple moving average of C$17.45. The stock has a market capitalization of C$8.30 billion, a price-to-earnings ratio of 5.17, a PEG ratio of 0.02 and a beta of 2.39. Air Canada has a 1-year low of C$14.47 and a 1-year high of C$23.21.

Insiders Place Their Bets

In related news, Senior Officer Christophe Hennebelle purchased 1,900 shares of Air Canada stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of C$15.70 per share, for a total transaction of C$29,830.00. 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.