Cormark Has Positive Outlook of Air Canada FY2024 Earnings

Air Canada (OTCMKTS:ACDVF) – Analysts at Cormark increased their FY2024 EPS estimates for Air Canada in a research note issued to investors on Monday, November 4th. Cormark analyst D. Ocampo now expects that the company will post earnings of $2.60 per share for the year, up from their previous forecast of $1.95. The consensus estimate for Air Canada’s current full-year earnings is $1.65 per share. Cormark also issued estimates for Air Canada’s Q4 2024 earnings at $0.19 EPS, Q1 2025 earnings at $0.01 EPS, Q3 2025 earnings at $2.04 EPS, Q4 2025 earnings at $0.03 EPS and FY2025 earnings at $3.03 EPS.

Air Canada (OTCMKTS:ACDVF) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. The firm had revenue of $4.03 billion during the quarter. Air Canada had a net margin of 11.53% and a return on equity of 133.91%.

Separately, Stifel Canada raised Air Canada from a “hold” rating to a “strong-buy” rating in a report on Sunday.

Air Canada Price Performance

OTCMKTS ACDVF opened at $16.00 on Wednesday. Air Canada has a fifty-two week low of $10.16 and a fifty-two week high of $16.02. The stock’s 50-day moving average is $12.49 and its two-hundred day moving average is $12.63. The firm has a market cap of $5.74 billion, a P/E ratio of 3.31 and a beta of 2.05. The company has a debt-to-equity ratio of 9.32, a current ratio of 0.85 and a quick ratio of 0.81.

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.