Analysts Set Expectations for Air Canada’s Q4 2016 Earnings (AC)
Air Canada (TSE:AC) – Raymond James Financial cut their Q4 2016 earnings per share estimates for Air Canada in a report issued on Monday. Raymond James Financial analyst B. Cherniavsky now expects that the brokerage will post earnings of ($0.15) per share for the quarter, down from their prior forecast of ($0.06).
Other analysts have also recently issued reports about the stock. TD Securities lifted their price objective on shares of Air Canada from C$22.00 to C$23.00 and gave the company an “action list buy” rating in a research note on Tuesday, September 27th. BMO Capital Markets lifted their price objective on shares of Air Canada from C$13.00 to C$15.00 and gave the company an “outperform” rating in a research note on Wednesday, October 5th. Canaccord Genuity lifted their price objective on shares of Air Canada from C$13.00 to C$14.00 and gave the company a “buy” rating in a research note on Monday, October 3rd. RBC Capital Markets upgraded shares of Air Canada from an “outperform” rating to a “top pick” rating and lifted their price objective for the company from C$14.00 to C$18.00 in a research note on Thursday, October 6th. Finally, Royal Bank Of Canada upgraded shares of Air Canada from an “outperform” rating to a “top pick” rating and lifted their price objective for the company from C$14.00 to C$18.00 in a research note on Thursday, October 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of C$15.69.
Air Canada (TSE:AC) traded down 1.38% during trading on Wednesday, reaching $12.87. 1,635,355 shares of the company traded hands. Air Canada has a 52 week low of $6.81 and a 52 week high of $13.15. The firm has a 50-day moving average price of $10.35 and a 200-day moving average price of $9.45. The company has a market capitalization of $3.55 billion and a P/E ratio of 6.18.
About Air Canada
Air Canada is a domestic, United States transborder and international airline company. The Company is a provider of scheduled passenger services in the Canadian market, the Canada-United States transborder market and in the international market to and from Canada. The Company’s mainline operates a fleet of over 170 aircraft, including Airbus narrow-body aircraft, Boeing and Airbus wide-body aircraft, and Embraer 190 regional jets.
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