Raymond James Financial Comments on Air Canada’s Q3 2016 Earnings (AC)
Air Canada (TSE:AC) – Raymond James Financial upped their Q3 2016 earnings per share (EPS) estimates for shares of Air Canada in a report released on Monday. Raymond James Financial analyst B. Cherniavsky now anticipates that the brokerage will post earnings per share of $2.28 for the quarter, up from their previous forecast of $2.17. Raymond James Financial also issued estimates for Air Canada’s FY2016 earnings at $3.20 EPS and FY2017 earnings at $2.32 EPS.
A number of other research analysts have also recently weighed in on the stock. TD Securities raised their price objective on shares of Air Canada from C$22.00 to C$23.00 and gave the stock an “action list buy” rating in a research note on Tuesday, September 27th. BMO Capital Markets lifted their target price on shares of Air Canada from C$13.00 to C$15.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 5th. Canaccord Genuity lifted their target price on shares of Air Canada from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research note on Monday, October 3rd. RBC Capital Markets raised shares of Air Canada from an “outperform” rating to a “top pick” rating and lifted their target price for the stock from C$14.00 to C$18.00 in a research note on Thursday, October 6th. Finally, Royal Bank Of Canada raised shares of Air Canada from an “outperform” rating to a “top pick” rating and lifted their target price for the stock 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 issued a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. Air Canada presently has a consensus rating of “Buy” and an average price target of C$15.52.
Air Canada (TSE:AC) traded up 0.77% on Tuesday, reaching $13.09. The company’s stock had a trading volume of 754,878 shares. The firm has a 50 day moving average price of $10.23 and a 200 day moving average price of $9.42. Air Canada has a 52 week low of $6.81 and a 52 week high of $13.15. The stock has a market capitalization of $3.61 billion and a P/E ratio of 6.29.
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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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