Stifel Canada Weighs in on Air Canada FY2024 Earnings

Air Canada (TSE:AC) – Research analysts at Stifel Canada issued their FY2024 earnings estimates for Air Canada in a report issued on Tuesday, October 15th. Stifel Canada analyst D. Young expects that the company will post earnings per share of $2.52 for the year. Stifel Canada has a “Hold” rating on the stock. The consensus estimate for Air Canada’s current full-year earnings is $2.58 per share. Stifel Canada also issued estimates for Air Canada’s FY2025 earnings at $2.80 EPS.

Air Canada (TSE:AC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 earnings per share for the quarter, topping the consensus estimate of C$0.85 by C$0.13. Air Canada had a net margin of 7.92% and a return on equity of 603.77%. The firm had revenue of C$5.52 billion for the quarter, compared to analysts’ expectations of C$5.55 billion.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Air Canada from C$41.00 to C$36.00 in a research report on Thursday, August 8th. TD Securities decreased their price target on shares of Air Canada from C$25.00 to C$19.00 in a report on Wednesday, July 24th. Cormark lowered their target price on Air Canada from C$25.50 to C$21.25 in a research note on Tuesday, July 23rd. Royal Bank of Canada dropped their price target on Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group boosted their price objective on shares of Air Canada from C$16.00 to C$18.00 in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$23.70.

Air Canada Stock Performance

Air Canada stock opened at C$18.28 on Friday. Air Canada has a 12-month low of C$14.47 and a 12-month high of C$20.47. The stock has a market capitalization of C$6.55 billion, a price-to-earnings ratio of 4.08, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a quick ratio of 1.06, a current ratio of 0.85 and a debt-to-equity ratio of 1,070.99. The stock has a 50-day simple moving average of C$15.99 and a 200 day simple moving average of C$17.42.

Insider Activity at Air Canada

In other Air Canada news, Senior Officer Christophe Hennebelle bought 1,900 shares of Air Canada 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 company 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.