Cormark Has Bullish Forecast for Air Canada FY2024 Earnings

Air Canada (OTCMKTS:ACDVF) – Equities researchers at Cormark upped their FY2024 earnings per share (EPS) estimates for shares of Air Canada in a report issued on Monday, November 4th. Cormark analyst D. Ocampo now anticipates that the company will post earnings of $2.60 per share for the year, up from their previous forecast of $1.95. The consensus estimate for Air Canada’s current full-year earnings is $1.65 per share. Cormark also issued estimates for Air Canada’s Q4 2024 earnings at $0.19 EPS, Q1 2025 earnings at $0.01 EPS, Q3 2025 earnings at $2.04 EPS, Q4 2025 earnings at $0.03 EPS and FY2025 earnings at $3.03 EPS.

Separately, Stifel Canada raised shares of Air Canada from a “hold” rating to a “strong-buy” rating in a research report on Sunday.

Air Canada Price Performance

Shares of Air Canada stock opened at $16.00 on Wednesday. The company has a debt-to-equity ratio of 9.32, a current ratio of 0.85 and a quick ratio of 0.81. The company has a market cap of $5.74 billion, a PE ratio of 3.31 and a beta of 2.05. The firm has a fifty day moving average price of $12.49 and a two-hundred day moving average price of $12.63. Air Canada has a fifty-two week low of $10.16 and a fifty-two week high of $16.02.

Air Canada (OTCMKTS:ACDVF) last announced its earnings results on Wednesday, August 7th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.10. The business had revenue of $4.03 billion for the quarter. Air Canada had a net margin of 11.53% and a return on equity of 133.91%.

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.