Cormark Comments on Air Canada’s FY2016 Earnings (AC)
Air Canada (TSE:AC) – Equities researchers at Cormark raised their FY2016 earnings per share (EPS) estimates for Air Canada in a note issued to investors on Monday. Cormark analyst D. Tyerman now anticipates that the brokerage will earn $3.76 per share for the year, up from their previous estimate of $3.71. Cormark also issued estimates for Air Canada’s Q1 2017 earnings at $0.25 EPS and Q3 2017 earnings at $2.68 EPS.
AC has been the subject of a number of other reports. CIBC upped their price objective on shares of Air Canada from C$12.25 to C$14.00 in a research note on Tuesday, August 2nd. Royal Bank Of Canada reduced their price objective on shares of Air Canada from C$16.00 to C$14.00 and set an “outperform” rating for the company in a research note on Wednesday, August 3rd. Macquarie reduced their price target on shares of Air Canada from C$10.00 to C$9.00 in a research report on Friday, July 22nd. TD Securities increased their price target 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 report on Tuesday. Finally, Canaccord Genuity initiated coverage on shares of Air Canada in a research report on Tuesday, June 28th. They issued a “buy” rating and a C$13.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of C$14.67.
Air Canada (TSE:AC) opened at 9.81 on Tuesday. The firm has a market capitalization of $2.71 billion and a PE ratio of 4.71. The stock’s 50 day moving average is $9.14 and its 200-day moving average is $9.13. Air Canada has a 52-week low of $6.81 and a 52-week high of $12.29.
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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