Air Canada Forecasted to Post Q3 2016 Earnings of $2.35 Per Share (AC)
Air Canada (TSE:AC) – Equities research analysts at National Bank Financial lowered their Q3 2016 earnings per share (EPS) estimates for Air Canada in a research note issued to investors on Thursday. National Bank Financial analyst C. Doerksen now anticipates that the firm will post earnings of $2.35 per share for the quarter, down from their prior forecast of $2.41. National Bank Financial has a “Outperform” rating and a $15.50 price target on the stock.
Other analysts have also issued research reports about the stock. CIBC increased their price objective on shares of Air Canada from C$14.00 to C$17.50 in a research note on Thursday, October 13th. Macquarie cut their price objective on shares of Air Canada from C$10.00 to C$9.00 in a research note on Friday, July 22nd. Raymond James Financial Inc. raised their price target on shares of Air Canada from C$8.25 to C$10.50 in a research report on Monday. TD Securities raised their price target on shares of Air Canada from C$22.00 to C$23.00 and gave the company an “action list buy” rating in a research report on Tuesday, September 27th. Finally, Canaccord Genuity assumed coverage on shares of Air Canada in a research report on Tuesday, June 28th. They set a “buy” rating and a C$13.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and three have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of C$15.69.
Shares of Air Canada (TSE:AC) opened at 13.05 on Monday. Air Canada has a 12-month low of $6.81 and a 12-month high of $13.15. The stock has a 50 day moving average of $10.35 and a 200-day moving average of $9.45. The company has a market capitalization of $3.60 billion and a P/E ratio of 6.27.
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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