Q3 2024 EPS Estimates for Air Canada (TSE:AC) Reduced by Atb Cap Markets

Air Canada (TSE:AC) – Equities research analysts at Atb Cap Markets cut their Q3 2024 earnings per share (EPS) estimates for Air Canada in a research note issued on Monday, September 9th. Atb Cap Markets analyst C. Murray now expects that the company will earn $1.38 per share for the quarter, down from their previous estimate of $1.60. The consensus estimate for Air Canada’s current full-year earnings is $2.82 per share. Atb Cap Markets also issued estimates for Air Canada’s Q4 2024 earnings at ($0.22) EPS, FY2024 earnings at $1.87 EPS, Q1 2025 earnings at ($0.21) EPS, Q2 2025 earnings at $0.62 EPS, Q3 2025 earnings at $1.63 EPS, Q4 2025 earnings at ($0.17) EPS and FY2025 earnings at $1.89 EPS.

Air Canada (TSE:AC) last issued its quarterly earnings results 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 firm had revenue of C$5.52 billion for the quarter, compared to analysts’ expectations of C$5.55 billion.

Several other equities analysts also recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of Air Canada from C$33.00 to C$28.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. ATB Capital reduced their price target 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. Jefferies Financial Group decreased their price target on Air Canada from C$19.00 to C$16.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. TD Securities reduced their price objective on shares of Air Canada from C$25.00 to C$19.00 in a research note on Wednesday, July 24th. Finally, Citigroup lowered their target price on shares of Air Canada from C$25.00 to C$21.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Two investment analysts have 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 an average target price of C$23.75.

Air Canada Trading Up 1.9 %

Shares of AC opened at C$15.41 on Thursday. Air Canada has a fifty-two week low of C$14.47 and a fifty-two week high of C$21.42. The business has a 50-day moving average of C$16.01 and a 200 day moving average of C$17.66. The firm has a market cap of C$5.52 billion, a P/E ratio of 3.44, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. 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 Christophe Hennebelle bought 1,900 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average price of C$15.70 per share, with a total value of C$29,830.00. 0.14% 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.