Cormark Has Bearish Forecast for Air Canada FY2024 Earnings

Air Canada (TSE:AC) – Stock analysts at Cormark cut their FY2024 earnings per share (EPS) estimates for shares of Air Canada in a research report issued to clients and investors on Wednesday, December 18th. Cormark analyst D. Ocampo now forecasts that the company will post earnings of $3.53 per share for the year, down from their previous forecast of $3.61. The consensus estimate for Air Canada’s current full-year earnings is $2.58 per share. Cormark also issued estimates for Air Canada’s Q4 2024 earnings at $0.18 EPS, Q1 2025 earnings at ($0.14) EPS, Q2 2025 earnings at $0.75 EPS, Q3 2025 earnings at $1.84 EPS, Q4 2025 earnings at ($0.18) EPS, FY2025 earnings at $2.27 EPS and FY2026 earnings at $2.61 EPS.

A number of other research analysts have also issued reports on the stock. BMO Capital Markets increased their target price on shares of Air Canada from C$29.00 to C$31.00 in a research report on Wednesday, December 18th. ATB Capital boosted their price target on Air Canada from C$28.00 to C$31.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Raymond James upgraded Air Canada to a “moderate buy” rating in a research note on Tuesday, December 17th. Jefferies Financial Group upped their target price on Air Canada from C$18.00 to C$22.00 in a research report on Tuesday, November 5th. Finally, Stifel Canada raised Air Canada from a “hold” rating to a “strong-buy” rating in a research note on Sunday, November 3rd. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$26.67.

Air Canada Trading Up 0.8 %

Shares of Air Canada stock opened at C$22.24 on Monday. Air Canada has a 52-week low of C$14.47 and a 52-week high of C$26.18. The stock has a market cap of C$7.97 billion, a PE ratio of 4.96, a PEG ratio of 0.02 and a beta of 2.39. The firm has a 50-day moving average of C$22.34 and a 200-day moving average of C$18.56. The company has a debt-to-equity ratio of 1,070.99, a quick ratio of 1.06 and a current ratio of 0.85.

Insider Activity at Air Canada

In related news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of C$21.71, for a total transaction of C$130,246.80. 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.