Analysts Set Expectations for Air Canada’s Q4 2016 Earnings (AC)
Air Canada (TSE:AC) – Research analysts at Raymond James Financial cut their Q4 2016 earnings estimates for Air Canada in a note issued to investors on Monday. Raymond James Financial analyst B. Cherniavsky now expects that the firm will post earnings per share of ($0.15) for the quarter, down from their previous estimate of ($0.06).
A number of other equities research analysts have also recently weighed in on the company. Royal Bank Of Canada dropped their price target on Air Canada from C$16.00 to C$14.00 and set an “outperform” rating for the company in a report on Wednesday, August 3rd. TD Securities raised their price target on Air Canada from C$20.00 to C$22.00 and gave the company an “action list buy” rating in a report on Tuesday, August 2nd. CSFB reaffirmed an “outperform” rating on shares of Air Canada in a report on Thursday, September 29th. Scotiabank dropped their price target on Air Canada from C$13.50 to C$13.00 and set a “sector perform” rating for the company in a report on Tuesday, August 2nd. Finally, National Bank Financial dropped their price target on Air Canada from C$13.50 to C$13.00 in a report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of C$15.69.
Shares of Air Canada (TSE:AC) traded down 1.38% during mid-day trading on Wednesday, hitting $12.87. The stock had a trading volume of 1,635,355 shares. Air Canada has a 12-month low of $6.81 and a 12-month high of $13.15. The stock has a market cap of $3.55 billion and a price-to-earnings ratio of 6.18. The firm’s 50-day moving average price is $10.35 and its 200 day moving average price is $9.45.
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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