Third-quarter earnings of Air Canada stock are to be released On Friday, October 28, 2022.
Michael Rousseau, President and Chief Executive Officer of Air Canada, Amos Kazzaz, Executive Vice President and Chief Financial Officer, and Lucie Guillemette, Executive Vice President, and Chief Commercial Officer, will host a conference call for analysts to present the results of the third quarter of 2022 and take questions from them.
The most recent earnings report from Air Canada (AC:TSX) was released on Tuesday, August 2. The company’s quarterly earnings per share came in at CAD 1.83 which is CAD 1.04 less than the consensus estimate of CAD 0.79. Compared to analysts’ forecasts of CAD 3.86 billion, the company’s revenue for the quarter came in at CAD 3.98 billion.
About Air Canada:
Air Canada offers domestic, international, and transborder flights. Under the brands’ Air Canada Vacations and Air Canada Rouge, it offers scheduled passenger services via capacity purchase agreements on other regional carriers in the Canadian market, the Canada-U.S. transborder market, and the international market to and from Canada.
The company also operates and develops travel reward programs and manages, produces, advertises, and distributes cruise packages. Air Canada, which was founded in 1937, has its headquarters in Saint-Laurent, Canada.
Air Canada Stock-Trading 1.1% Higher:
On Friday, Air Canada stock began trading at CAD 18.25. The company’s 50-day and 200-day moving average prices are CAD 18.09 and CAD 19.23, respectively. A 12-month low for Air Canada shares is CAD 15.57 and a 12-month high is CAD 26.80. The company has a debt-to-equity ratio of 183,588.89, a quick ratio of 1.06, and a current ratio of 1.15. The stock has a price-to-earnings ratio of -1.99 and a market value of CAD 6.53 billion.
Analysts Forecasts & Target Prices:
Air Canada has been the topic of various research reports and always gets highlighted by Bay Street Analysts.
On Wednesday, August 3rd, ATB Capital raised the price target for Air Canada from CAD 30.00 to CAD 32.00 and rated the stock as a “Buy”.
In a research note published on Tuesday, June 28th, Scotiabank lowered the price target for Air Canada from CAD 31.00 to CAD 26.00.
In another research note published on Monday, September 19th, JPMorgan Chase & Co. raised their price target for Air Canada from CAD 29.00 to CAD 40.00.
In a research report published on Tuesday, July 12th, Canaccord Genuity Group upgraded the Air Canada stock rating from “Hold” to a “Buy” rating and set a CAD 23.00 price target for the company.
Finally, in a research note published on Thursday, October 13th, BMO Capital Markets lowered their price target for Air Canada from CAD 35.00 to CAD 30.00.
Nine investment experts have given Air Canada a “Buy” rating, while four have given the stock a “Hold” rating.
Air Canada stock has a consensus “Moderate Buy” rating and an average 12-month stock price target of CAD 27.57.
Stock Target Advisor’s detailed stock analysis of Air Canada (AC:TSX).
Why Air Canada Stock Price Could Rise?
The following elements currently favor an increase in the share price of Air Canada:
• High Market Capitalization:
With CAD 6.33 billion in market capitalization, Air Canada is one of the biggest companies in its industry in the domestic Canadian market. Since there is still less competition, the stock price of Air Canada is more consistent.
• Successful International Operations:
In addition to offering passenger services in Canada, Air Canada also does so with success in other countries, including the United States. The company appears to be extremely profitable.
• Low Stock Price:
The stock price of Air Canada is currently trading at a low level, much below its all-time highs, which raises the likelihood of high returns on invested capital.
• Positive Stock Forecasts:
Analysts’ stock predictions for Air Canada depict a positive trend of share price growth.
• High Growth Potential:
There is room for expansion for Air Canada. To increase its revenue growth, it can expand its activities in other international markets.
• Strong Financial Performance:
Analysts anticipate that the price of Air Canada shares will rise by 28.56% to CAD 29.47 or higher based on the company’s Q2 financial report.
Selling and Buying by Insiders:
In related news, on Thursday, September 15th, Senior Officer Pierre Houle sold 2,387 shares of Air Canada stock. The shares were sold for a total of CAD 45,902.01 at an average price of CAD 19.23 per share.
The insider now owns 2,903 shares in the business, valued at CAD 55,824.69, after the purchase. In other news, on September 1st, Senior Officer Mark Youssef Nasr made a stock acquisition of 5,378 shares.
The shares were bought for a total of CAD 97,825.82 at an average price of CAD 18.19 per share. The insider now directly owns 8,350 shares of Air Canada stock, worth CAD 151,886.50, following the conclusion of the deal.
On Friday, October 28th, before the market opens, Air Canada (AC:TSX) will announce its third-quarter earnings results. Analysts anticipate Air Canada to report quarterly earnings of CAD 0.33 per share.