Cormark Issues Pessimistic Forecast for Air Canada Earnings

Air Canada (TSE:AC) – Investment analysts at Cormark reduced their FY2024 EPS estimates for shares of Air Canada in a research report issued to clients and investors on Wednesday, December 18th. Cormark analyst D. Ocampo now anticipates that the company will post earnings of $3.53 per share for the year, down from their prior forecast of $3.61. The consensus estimate for Air Canada’s current full-year earnings is $2.58 per share. Cormark also issued estimates for Air Canada’s Q4 2024 earnings at $0.18 EPS, Q1 2025 earnings at ($0.14) EPS, Q2 2025 earnings at $0.75 EPS, Q3 2025 earnings at $1.84 EPS, Q4 2025 earnings at ($0.18) EPS, FY2025 earnings at $2.27 EPS and FY2026 earnings at $2.61 EPS.

AC has been the topic of several other research reports. BMO Capital Markets boosted their price target on Air Canada from C$29.00 to C$31.00 in a research note on Wednesday, December 18th. Citigroup upped their target price on Air Canada from C$21.00 to C$28.50 in a research report on Monday, November 18th. TD Cowen raised their price target on shares of Air Canada to C$25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. ATB Capital lifted their price objective on shares of Air Canada from C$28.00 to C$31.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Finally, Scotiabank increased their price objective on shares of Air Canada from C$26.50 to C$29.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Two investment 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 company. According to MarketBeat, Air Canada has a consensus rating of “Moderate Buy” and a consensus price target of C$26.67.

Air Canada Stock Performance

AC opened at C$21.96 on Monday. The company has a market cap of C$7.87 billion, a P/E ratio of 4.90, a price-to-earnings-growth 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 firm’s 50-day moving average price is C$22.25 and its 200-day moving average price is C$18.53. Air Canada has a 52-week low of C$14.47 and a 52-week high of C$26.18.

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.