Air Canada (TSE:AC) to Post Q3 2020 Earnings of $2.95 Per Share, Cormark Forecasts

Air Canada (TSE:AC) – Cormark reduced their Q3 2020 earnings estimates for Air Canada in a note issued to investors on Wednesday, July 31st. Cormark analyst D. Ocampo now anticipates that the company will post earnings of $2.95 per share for the quarter, down from their prior forecast of $2.98. Cormark also issued estimates for Air Canada’s FY2021 earnings at $6.41 EPS and FY2022 earnings at $7.35 EPS.

A number of other equities research analysts have also recently commented on AC. JPMorgan Chase & Co. increased their price target on Air Canada from C$40.00 to C$42.00 in a research note on Wednesday, May 8th. CIBC lifted their price target on Air Canada from C$50.00 to C$53.00 in a research report on Wednesday. Morgan Stanley set a C$46.00 price objective on Air Canada and gave the company an “overweight” rating in a report on Friday, April 5th. AltaCorp Capital raised their price objective on Air Canada from C$51.00 to C$56.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Raymond James lifted their price target on Air Canada from C$38.00 to C$44.50 and gave the stock a “market perform” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of C$49.96.

Shares of Air Canada stock opened at C$45.41 on Thursday. Air Canada has a 52 week low of C$22.57 and a 52 week high of C$47.43. The company has a quick ratio of 0.85, a current ratio of 0.93 and a debt-to-equity ratio of 294.80. The firm has a fifty day simple moving average of C$41.86. The company has a market cap of $12.64 billion and a P/E ratio of 17.60.

Air Canada (TSE:AC) last posted its quarterly earnings results on Monday, May 6th. The company reported C$0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C($0.18) by C$0.24. The business had revenue of C$4.45 billion during the quarter, compared to the consensus estimate of C$4.38 billion.

In related news, Senior Officer Pierre Houle sold 1,955 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of C$35.81, for a total value of C$70,009.53.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand name 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.

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Earnings History and Estimates for Air Canada (TSE:AC)

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