Beacon Securities Comments on Air Canada’s FY2017 Earnings (AC)
Air Canada (TSE:AC) – Beacon Securities increased their FY2017 EPS estimates for Air Canada in a research note issued on Monday. Beacon Securities analyst A. Shaath now forecasts that the company will post earnings per share of $3.69 for the year, up from their prior estimate of $3.33. Beacon Securities currently has a “Buy” rating on the stock.
ILLEGAL ACTIVITY NOTICE: This piece was first reported by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/07/11/beacon-securities-comments-on-air-canadas-fy2017-earnings-ac.html.
AC has been the topic of several other research reports. Royal Bank Of Canada increased their price objective on shares of Air Canada from C$18.00 to C$21.00 and gave the stock a “top pick” rating in a research note on Monday, May 15th. BMO Capital Markets reiterated an “outperform” rating and issued a C$20.00 price objective on shares of Air Canada in a research note on Friday, May 12th. Scotiabank raised their target price on shares of Air Canada from C$15.50 to C$16.25 and gave the stock a “sector perform” rating in a research note on Monday, May 8th. Canaccord Genuity raised their target price on shares of Air Canada from C$21.00 to C$23.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Raymond James Financial, Inc. raised their target price on shares of Air Canada from C$12.50 to C$15.00 and gave the stock a “market perform” rating in a research note on Monday, May 8th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Air Canada currently has a consensus rating of “Buy” and an average target price of C$20.83.
Shares of Air Canada (TSE AC) opened at 20.37 on Tuesday. Air Canada has a 52-week low of $8.66 and a 52-week high of $20.39. The stock has a 50 day moving average of $17.26 and a 200 day moving average of $14.51. The company has a market cap of $5.52 billion and a price-to-earnings ratio of 7.71.
In related news, insider Michael Stewart Rousseau sold 52,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of C$18.04, for a total value of C$938,080.00. Also, insider Arielle Meloul-Wechsler sold 7,064 shares of the firm’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of C$17.62, for a total transaction of C$124,467.68. In the last quarter, insiders have sold 115,678 shares of company stock worth $2,073,401.
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. 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.
Receive News & Ratings for Air Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Canada and related companies with MarketBeat.com's FREE daily email newsletter.