National Bank Financial Weighs in on Air Canada’s FY2018 Earnings (AC)
Air Canada (TSE:AC) – Research analysts at National Bank Financial lowered their FY2018 EPS estimates for Air Canada in a research report issued to clients and investors on Wednesday. National Bank Financial analyst C. Doerksen now forecasts that the company will post earnings per share of $3.16 for the year, down from their previous estimate of $4.17. National Bank Financial has a “Outperform” rating and a $33.00 price objective on the stock.
A number of other research analysts have also recently weighed in on AC. Scotiabank lifted their target price on Air Canada from C$28.50 to C$30.00 and gave the company a “sector perform” rating in a report on Thursday. Royal Bank Of Canada reduced their target price on Air Canada from C$33.00 to C$31.00 and set an “outperform” rating on the stock in a report on Thursday. CIBC lifted their target price on Air Canada from C$34.00 to C$36.00 in a report on Thursday. Canaccord Genuity lifted their target price on Air Canada from C$23.00 to C$27.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, TD Securities lifted their target price on Air Canada from C$34.00 to C$36.00 and gave the company an “action list buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of C$31.05.
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Air Canada (TSE:AC) traded down 2.09% during midday trading on Monday, hitting $25.73. The company had a trading volume of 338,880 shares. The firm has a market cap of $6.99 billion and a price-to-earnings ratio of 8.43. The stock has a 50 day moving average of $21.96 and a 200 day moving average of $17.12. Air Canada has a 52-week low of $11.60 and a 52-week high of $28.70.
In other news, insider Michael Stewart Rousseau sold 40,000 shares of Air Canada stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of C$21.20, for a total transaction of C$848,000.00. Also, insider Yves Dufresne sold 1,677 shares of Air Canada stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of C$22.15, for a total value of C$37,145.55. Over the last ninety days, insiders have sold 1,001,939 shares of company stock worth $20,827,620.
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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