FY2017 EPS Estimates for Air Canada Decreased by Cormark (AC)
Air Canada (TSE:AC) – Equities research analysts at Cormark lowered their FY2017 EPS estimates for Air Canada in a research report issued to clients and investors on Wednesday. Cormark analyst D. Tyerman now expects that the company will earn $4.20 per share for the year, down from their previous estimate of $4.33. Cormark also issued estimates for Air Canada’s Q4 2017 earnings at $0.30 EPS, Q4 2018 earnings at $0.33 EPS, FY2019 earnings at $3.82 EPS, FY2020 earnings at $4.02 EPS and FY2021 earnings at $4.68 EPS.
Other research analysts also recently issued research reports about the company. Royal Bank Of Canada upped their price objective on Air Canada from C$25.00 to C$26.00 and gave the company a “top pick” rating in a research note on Wednesday, August 2nd. Canaccord Genuity upped their price objective on Air Canada from C$27.00 to C$31.00 and gave the company a “buy” rating in a research note on Wednesday, September 20th. BMO Capital Markets reaffirmed an “outperform” rating and issued a C$34.00 price objective on shares of Air Canada in a research note on Wednesday, September 20th. Cowen raised shares of Air Canada from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 20th. Finally, Scotiabank increased their target price on shares of Air Canada from C$20.50 to C$27.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of C$30.86.
Air Canada (TSE AC) opened at C$23.82 on Thursday. Air Canada has a 52 week low of C$12.49 and a 52 week high of C$28.70.
In other Air Canada news, insider Duncan Bureau sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of C$23.58, for a total transaction of C$47,160.00. Also, Director Benjamin M. Smith sold 30,669 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of C$22.01, for a total value of C$675,024.69. Insiders have sold a total of 33,544 shares of company stock valued at $744,147 in the last three months.
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Air Canada Company Profile
Air Canada provides the U.S. transbonder and international airline services. The company offers scheduled passenger services under the Air Canada Express brand name in the Canadian market, the Canada-U.S. transbonder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.
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