Equities Analysts Offer Predictions for Air Canada’s FY2017 Earnings (TSE:AC)
Air Canada (TSE:AC) – Cormark raised their FY2017 earnings per share estimates for Air Canada in a report released on Wednesday. Cormark analyst D. Tyerman now expects that the company will post earnings of $3.97 per share for the year, up from their prior estimate of $3.32. Cormark also issued estimates for Air Canada’s Q4 2017 earnings at $0.18 EPS, Q1 2018 earnings at ($0.01) EPS, Q2 2018 earnings at $0.97 EPS, Q3 2018 earnings at $3.57 EPS, Q4 2018 earnings at $0.02 EPS, FY2018 earnings at $4.55 EPS, FY2019 earnings at $4.76 EPS, FY2020 earnings at $4.97 EPS and FY2021 earnings at $5.97 EPS.
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Several other brokerages have also recently issued reports on AC. Canaccord Genuity increased their target price on Air Canada from C$21.00 to C$23.00 and gave the company a “buy” rating in a research report on Friday, July 7th. Royal Bank Of Canada increased their target price on Air Canada from C$18.00 to C$21.00 and gave the company a “top pick” rating in a research report on Monday, May 15th. BMO Capital Markets reaffirmed an “outperform” rating and set a C$20.00 target price on shares of Air Canada in a research report on Friday, May 12th. Scotiabank increased their target price on Air Canada from C$15.50 to C$16.25 and gave the company a “sector perform” rating in a research report on Monday, May 8th. Finally, Raymond James Financial, Inc. increased their target price on Air Canada from C$12.50 to C$15.00 and gave the company a “market perform” rating in a research report on Monday, May 8th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of C$25.17.
Air Canada (TSE:AC) opened at 21.67 on Friday. The firm’s 50-day moving average price is $18.56 and its 200-day moving average price is $15.35. Air Canada has a 52 week low of $8.66 and a 52 week high of $21.83. The stock has a market cap of $5.87 billion and a PE ratio of 8.21.
In other Air Canada news, insider Michael Stewart Rousseau sold 52,000 shares of Air Canada stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of C$18.04, for a total transaction of C$938,080.00. Also, Director Calin Rovinescu sold 925,481 shares of Air Canada stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of C$20.72, for a total value of C$19,175,966.32. Insiders sold a total of 1,081,159 shares of company stock valued at $22,097,367 in the last three months.
Air Canada Company Profile
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. Its mainline operates a fleet of approximately 170 aircraft, including Airbus narrow-body aircraft, over 70 Boeing and Airbus wide-body aircraft, and approximately Embraer 190 regional jets.
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