Scotiabank Forecasts Air Canada’s FY2024 Earnings (TSE:AC)

Air Canada (TSE:AC) – Analysts at Scotiabank raised their FY2024 earnings estimates for shares of Air Canada in a report issued on Wednesday, January 8th. Scotiabank analyst K. Gupta now expects that the company will post earnings per share of $3.50 for the year, up from their previous estimate of $2.63. Scotiabank currently has a “Outperform” rating and a $29.00 target price on the stock. The consensus estimate for Air Canada’s current full-year earnings is $2.58 per share. Scotiabank also issued estimates for Air Canada’s FY2025 earnings at $2.04 EPS.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. increased their price objective on Air Canada from C$32.00 to C$34.00 in a research report on Monday, November 4th. CIBC upped their target price on Air Canada from C$27.00 to C$28.00 in a report on Wednesday, December 4th. National Bankshares lifted their price target on Air Canada from C$22.00 to C$27.00 in a research note on Monday, November 4th. Stifel Nicolaus upped their price objective on shares of Air Canada from C$25.50 to C$28.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Raymond James upgraded shares of Air Canada to a “moderate buy” rating in a report on Tuesday, December 17th. Two 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 stock. Based on data from MarketBeat, Air Canada has a consensus rating of “Moderate Buy” and a consensus price target of C$26.60.

Air Canada Trading Up 1.3 %

Shares of TSE:AC opened at C$22.01 on Friday. 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. The stock has a market capitalization of C$7.89 billion, a price-to-earnings ratio of 4.91, 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$26.18. The company has a 50 day moving average price of C$23.46 and a 200 day moving average price of C$18.97.

Insiders Place Their Bets

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