Air Canada (TSE:AC) – Equities researchers at Cormark reduced their FY2017 EPS estimates for shares of Air Canada in a research report issued on Thursday. Cormark analyst D. Tyerman now anticipates that the company will post earnings per share of $4.33 for the year, down from their prior forecast of $4.59. Cormark also issued estimates for Air Canada’s Q4 2017 earnings at $0.39 EPS, Q1 2018 earnings at $0.00 EPS, Q3 2018 earnings at $2.73 EPS, Q4 2018 earnings at $0.34 EPS, FY2018 earnings at $3.89 EPS, FY2019 earnings at $4.13 EPS, FY2020 earnings at $4.35 EPS and FY2021 earnings at $4.99 EPS.
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A number of other brokerages have also commented on AC. Royal Bank Of Canada raised their price target on Air Canada from C$21.00 to C$25.00 and gave the company a “top pick” rating in a report on Friday, July 7th. CIBC raised their price target on Air Canada from C$20.50 to C$23.00 in a report on Friday, July 7th. Canaccord Genuity raised their price target on Air Canada from C$21.00 to C$23.00 and gave the company a “buy” rating in a report on Friday, July 7th. Scotiabank raised their price target on Air Canada from C$16.25 to C$20.50 and gave the company a “sector perform” rating in a report on Monday, July 10th. Finally, Macquarie raised their price target on Air Canada from C$18.00 to C$22.50 and gave the company a “neutral” rating in a report on Monday, July 17th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of C$31.05.
Air Canada (AC) opened at 25.46 on Monday. The firm has a market capitalization of $6.92 billion and a PE ratio of 8.34. Air Canada has a 52 week low of $11.60 and a 52 week high of $28.70. The firm has a 50-day moving average of $21.96 and a 200 day moving average of $17.12.
In related news, Director Calin Rovinescu sold 925,481 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of C$20.72, for a total transaction of C$19,175,966.32. Also, insider Kevin C. Howlett sold 30,769 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of C$22.00, for a total value of C$676,918.00. Insiders have sold 1,001,939 shares of company stock valued at $20,827,620 in the last ninety days.
About Air Canada
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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