Beacon Securities Brokers Raise Earnings Estimates for WestJet Airlines Ltd. (WJA)
WestJet Airlines Ltd. (TSE:WJA) – Beacon Securities raised their FY2017 earnings estimates for shares of WestJet Airlines in a research report issued to clients and investors on Wednesday. Beacon Securities analyst A. Shaath now forecasts that the company will earn $2.58 per share for the year, up from their prior estimate of $2.24. Beacon Securities has a “Buy” rating and a $28.50 price objective on the stock. Beacon Securities also issued estimates for WestJet Airlines’ FY2018 earnings at $3.19 EPS.
Several other research analysts have also recently commented on WJA. Raymond James Financial, Inc. restated a “market perform” rating and issued a C$24.50 target price on shares of WestJet Airlines in a research report on Monday, April 17th. CIBC decreased their target price on shares of WestJet Airlines from C$25.00 to C$24.00 in a research report on Wednesday, May 3rd. Scotiabank restated a “sector perform” rating and issued a C$28.00 target price on shares of WestJet Airlines in a research report on Wednesday, May 3rd. TD Securities restated a “buy” rating and issued a C$28.00 target price (up previously from C$24.00) on shares of WestJet Airlines in a research report on Wednesday, May 3rd. Finally, Royal Bank Of Canada upped their target price on shares of WestJet Airlines from C$27.00 to C$29.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. WestJet Airlines currently has a consensus rating of “Hold” and an average price target of C$25.63.
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Shares of WestJet Airlines (WJA) opened at 25.76 on Monday. WestJet Airlines has a one year low of $20.52 and a one year high of $26.10. The firm has a 50-day moving average price of $23.92 and a 200-day moving average price of $22.89. The stock has a market cap of $3.02 billion and a price-to-earnings ratio of 11.40.
In other news, insider Robert Cummings sold 1,200 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of C$23.13, for a total value of C$27,756.00. Also, Director L. Jacques Menard acquired 5,000 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was bought at an average price of C$22.68 per share, with a total value of C$113,400.00. Insiders bought 25,000 shares of company stock valued at $557,150 over the last quarter.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Wednesday, September 13th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, September 12th.
About WestJet Airlines
WestJet Airlines Ltd. provides scheduled airline services and travel packages. The company offers scheduled flights; operates WestJet Vacations that provides air, hotel, car, and excursion packages, as well as WestJet Encore, a regional airline with a fleet of turboprop aircraft in a network of destinations in Canada and the United States; and provides cargo and charter services.
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