FY2018 EPS Estimates for Air Canada (AC) Lowered by Analyst
Air Canada (TSE:AC) – Investment analysts at National Bank Financial reduced their FY2018 EPS estimates for Air Canada in a research report issued to clients and investors on Sunday. National Bank Financial analyst C. Doerksen now forecasts that the company will earn $3.02 per share for the year, down from their previous forecast of $3.16. National Bank Financial currently has a “Outperform Market Weight” rating on the stock. National Bank Financial also issued estimates for Air Canada’s FY2019 earnings at $3.87 EPS.
A number of other research analysts also recently issued reports on AC. Canaccord Genuity raised their price target on shares of Air Canada from C$27.00 to C$31.00 and gave the stock a “buy” rating in a research report on Wednesday, September 20th. BMO Capital Markets restated an “outperform” rating and issued a C$34.00 price target on shares of Air Canada in a research report on Wednesday, September 20th. Royal Bank of Canada reduced their price target on shares of Air Canada from C$33.00 to C$31.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th. CIBC raised their price target on shares of Air Canada from C$34.00 to C$36.00 in a research report on Thursday, October 26th. Finally, TD Securities raised their price target on shares of Air Canada from C$34.00 to C$36.00 and gave the stock an “action list buy” rating in a research report on Thursday, October 26th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of C$31.05.
Air Canada (TSE:AC) last posted its quarterly earnings data on Wednesday, October 25th. The company reported C$3.43 EPS for the quarter, beating the Zacks’ consensus estimate of C$3.27 by C$0.16. Air Canada had a net margin of 7.67% and a return on equity of 113.41%.
In related news, Director Benjamin M. Smith sold 30,669 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of C$22.01, for a total value of C$675,024.69. Also, insider Chris Isford sold 15,000 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of C$25.45, for a total transaction of C$381,750.00. In the last ninety days, insiders sold 48,544 shares of company stock worth $1,125,897.
TRADEMARK VIOLATION WARNING: “FY2018 EPS Estimates for Air Canada (AC) Lowered by Analyst” was published by American Banking News and is the property of of American Banking News. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://www.americanbankingnews.com/2018/01/16/fy2018-eps-estimates-for-air-canada-ac-lowered-by-analyst.html.
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.
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.