Scotiabank Issues Optimistic Outlook for Air Canada Earnings

Air Canada (TSE:AC) – Equities research analysts at Scotiabank increased their FY2024 earnings estimates for Air Canada in a report released 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 forecast of $2.63. Scotiabank has a “Outperform” rating and a $29.00 price target 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 research analysts also recently issued research reports about the stock. Citigroup cut their price objective on shares of Air Canada from C$28.50 to C$26.50 and set a “buy” rating on the stock in a research report on Monday, December 30th. Raymond James raised Air Canada to a “moderate buy” rating in a research report on Tuesday, December 17th. Canaccord Genuity Group raised their price objective on Air Canada from C$25.00 to C$29.00 in a research note on Monday, November 4th. CIBC upped their target price on Air Canada from C$27.00 to C$28.00 in a research report on Wednesday, December 4th. Finally, Cormark raised their price target on shares of Air Canada from C$26.75 to C$29.50 in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$26.60.

Air Canada Trading Down 0.5 %

Shares of TSE AC opened at C$21.91 on Friday. The stock has a market capitalization of C$7.85 billion, a P/E ratio of 4.89, 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 current ratio of 0.85 and a quick ratio of 1.06. The business has a fifty day moving average price of C$23.46 and a 200 day moving average price of C$19.00. Air Canada has a 1-year low of C$14.47 and a 1-year high of C$26.18.

Insider Activity at Air Canada

In other news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of C$21.71, for a total transaction of C$130,246.80. 0.14% of the stock is owned by corporate 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.