National Bank Financial Comments on Air Canada's FY2024 Earnings (TSE:AC)

Air Canada (TSE:AC - Free Report) - National Bank Financial reduced their FY2024 earnings per share estimates for Air Canada in a research note issued on Wednesday, April 17th. National Bank Financial analyst C. Doerksen now expects that the company will post earnings of $2.71 per share for the year, down from their prior forecast of $2.95. The consensus estimate for Air Canada's current full-year earnings is $2.95 per share.

AC has been the subject of a number of other reports. Royal Bank of Canada set a C$18.00 price objective on Air Canada and gave the company a "sector perform" rating in a research report on Thursday, April 4th. Canaccord Genuity Group boosted their price target on Air Canada from C$31.00 to C$32.00 and gave the stock a "buy" rating in a research report on Wednesday, January 31st. ATB Capital dropped their price target on Air Canada from C$33.00 to C$32.00 and set an "outperform" rating for the company in a research report on Tuesday, February 20th. National Bankshares set a C$31.00 price target on Air Canada and gave the stock an "outperform" rating in a research report on Tuesday, March 5th. Finally, Scotiabank dropped their price target on Air Canada from C$30.00 to C$29.00 and set an "outperform" rating for the company in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Air Canada has an average rating of "Moderate Buy" and an average price target of C$30.35.

Air Canada Price Performance

Shares of Air Canada stock remained flat at C$19.58 on Friday. The stock had a trading volume of 1,893,199 shares, compared to its average volume of 2,259,580. The firm has a market capitalization of C$7.02 billion, a P/E ratio of 3.29, a P/E/G ratio of 0.02 and a beta of 2.42. Air Canada has a 1-year low of C$16.04 and a 1-year high of C$26.04. The business has a 50-day simple moving average of C$18.71 and a 200-day simple moving average of C$18.33. The company has a debt-to-equity ratio of 1,741.46, a current ratio of 1.02 and a quick ratio of 1.06.

Air Canada (TSE:AC - Get Free Report) last announced its quarterly earnings results on Friday, February 16th. The company reported C($0.12) earnings per share for the quarter, missing the consensus estimate of C($0.05) by C($0.07). The company had revenue of C$5.18 billion during the quarter, compared to the consensus estimate of C$5.05 billion.

Insider Transactions at Air Canada

In other Air Canada news, Senior Officer Mark Youssef Nasr bought 2,406 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average cost of C$18.21 per share, for a total transaction of C$43,823.37. Insiders own 0.17% of the company's stock.

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.