Air Canada Announces Expiry of $500 Million Share Buyback Offer

Air Canada ( (TSE:AC) ) just unveiled an update.

Air Canada has announced the upcoming expiry of its substantial issuer bid to purchase up to $500 million of its Class A and Class B shares, set to expire on June 20, 2025. This move, conducted through a modified Dutch auction, allows shareholders to tender their shares at specified prices, potentially impacting the company’s share value and market perception. The Board of Directors has approved the offer, but shareholders are advised to consult with financial advisors before making decisions.

The most recent analyst rating on (TSE:AC) stock is a Buy with a C$29.00 price target. To see the full list of analyst forecasts on Air Canada stock, see the TSE:AC Stock Forecast page.

Spark’s Take on TSE:AC Stock

According to Spark, TipRanks’ AI Analyst, TSE:AC is a Outperform.

Air Canada’s stock is rated at 73, reflecting strong financial recovery and attractive valuation. The positive trajectory in revenue and profitability is tempered by high leverage and overbought technical indicators. The cautious outlook from the earnings call, amid market uncertainties, suggests moderate growth prospects. Overall, while the stock presents opportunities, investors should remain mindful of the financial risks and market dynamics.

To see Spark’s full report on TSE:AC stock, click here.

More about Air Canada

Air Canada is a major airline operating in the aviation industry, providing passenger and cargo air transportation services. The company focuses on serving both domestic and international markets, positioning itself as a key player in the airline sector.

Average Trading Volume: 3,680,442

Technical Sentiment Signal: Hold

Current Market Cap: C$6.62B

See more data about AC stock on TipRanks’ Stock Analysis page.