Brokers Set Expectations for Air Canada’s Q1 2018 Earnings (AC)
Air Canada (TSE:AC) – Cormark issued their Q1 2018 earnings per share estimates for Air Canada in a report released on Wednesday. Cormark analyst D. Tyerman forecasts that the company will post earnings per share of ($0.31) for the quarter. Cormark also issued estimates for Air Canada’s Q2 2018 earnings at $0.60 EPS and FY2018 earnings at $3.34 EPS.
Other analysts have also issued reports about the company. Canaccord Genuity lifted their price target on Air Canada from C$27.00 to C$31.00 and gave the stock a “buy” rating in a report on Wednesday, September 20th. BMO Capital Markets reiterated an “outperform” rating and set a C$34.00 price target on shares of Air Canada in a report on Wednesday, September 20th. Cowen upgraded Air Canada from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 20th. Royal Bank Of Canada dropped their price target on Air Canada from C$33.00 to C$31.00 and set an “outperform” rating on the stock in a report on Thursday, October 26th. Finally, CIBC lifted their price target on Air Canada from C$34.00 to C$36.00 in a report on Thursday, October 26th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of C$30.86.
In other news, insider Duncan Bureau sold 2,000 shares of Air Canada stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of C$23.58, for a total value of C$47,160.00. Also, Director Benjamin M. Smith sold 30,669 shares of Air Canada stock in a transaction on Monday, November 13th. The shares were sold at an average price of C$22.01, for a total value of C$675,024.69. Over the last quarter, insiders sold 33,544 shares of company stock valued at $744,147.
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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