ATB Cap Markets Predicts Higher Earnings for Air Canada

Air Canada (OTCMKTS:ACDVF - Free Report) has recently received positive news from analysts at Atb Cap Markets. In a research report released on Sunday, November 3rd, they raised their earnings projections for the airline for fiscal year 2024. Analyst C. Murray now estimates that Air Canada will earn $2.29 per share, a significant increase from the previous forecast of $1.38. The current consensus among analysts for the airline's overall earnings this year stands at $1.65 per share.

In addition to the annual earnings forecast, Atb Cap Markets provided estimates for Air Canada’s quarterly earnings. For the fourth quarter of 2024, they anticipate a loss of $0.03 per share. Looking ahead to the first quarter of 2025, they predict a loss of $0.36 per share, followed by a profit of $0.31 per share in the second quarter and $1.53 per share in the third quarter. In the fourth quarter of 2025, they expect another small loss of $0.14 per share. For fiscal year 2026, the earnings estimate stands at $1.61 per share.

Meanwhile, Stifel Canada made a notable adjustment in their recommendation of Air Canada, upgrading their rating from 'hold' to 'strong-buy' in a separate note issued on the same Sunday.

Current Trading Performance

As of Wednesday, Air Canada's stock opened at $16.00, reflecting a 2.6% increase at the beginning of the trading session. The airline's market capitalization is $5.74 billion, backed by a price-to-earnings ratio of 3.31. The stock has shown considerable volatility with a beta of 2.05 over the past year. Air Canada’s 50-day moving average sits at $12.49, while the 200-day moving average is $12.63. The stock has recorded a 12-month low of $10.16 and a high of $16.02.

In its latest earnings report, which was published on August 7th, Air Canada announced earnings of $0.72 per share for the quarterly period, surpassing analysts' expectations of $0.62 by $0.10. The company reported a revenue total of $4.03 billion, demonstrating a strong financial performance with a return on equity of 133.91% and a net margin of 11.53%.

About Air Canada

Air Canada is a major airline providing transport services across Canada, as well as transborder flights to the United States and international routes. The company operates scheduled passenger services under both the Air Canada Vacations and Air Canada Rouge brand names, serving a variety of markets, including domestic flights and international travel. Furthermore, they engage in capacity purchase agreements with other regional airlines, enhancing their operational reach.

Airline, Earnings, Forecast