Q3 2018 EPS Estimates for Air Canada Increased by Cormark (TSE:AC)
Air Canada (TSE:AC) – Equities researchers at Cormark upped their Q3 2018 EPS estimates for Air Canada in a research note issued on Thursday. Cormark analyst D. Tyerman now forecasts that the company will earn $3.08 per share for the quarter, up from their previous estimate of $2.76.
Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity boosted their price target on shares of Air Canada from C$21.00 to C$23.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada boosted their price objective on shares of Air Canada from C$21.00 to C$25.00 and gave the stock a “top pick” rating in a research note on Friday. Raymond James Financial, Inc. boosted their price objective on shares of Air Canada from C$12.50 to C$15.00 and gave the stock a “market perform” rating in a research note on Monday, May 15th. BMO Capital Markets reiterated an “outperform” rating and issued a C$20.00 target price on shares of Air Canada in a research note on Friday, May 12th. Finally, Scotiabank upped their target price on shares of Air Canada from C$15.50 to C$16.25 and gave the stock a “sector perform” rating in a research note on Monday, May 8th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Air Canada has an average rating of “Buy” and an average price target of C$20.36.
Shares of Air Canada (TSE:AC) opened at 19.75 on Monday. Air Canada has a one year low of $8.66 and a one year high of $19.82. The stock has a 50 day moving average price of $17.26 and a 200 day moving average price of $14.51. The firm has a market cap of $5.35 billion and a price-to-earnings ratio of 7.48.
In other news, insider Michael Stewart Rousseau sold 52,000 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of C$18.04, for a total value of C$938,080.00. Also, insider Marcel Forget sold 5,000 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of C$17.36, for a total transaction of C$86,800.00. Over the last ninety days, insiders have sold 115,678 shares of company stock valued at $2,073,401.
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. Its mainline operates a fleet of approximately 170 aircraft, including Airbus narrow-body aircraft, over 70 Boeing and Airbus wide-body aircraft, and approximately Embraer 190 regional jets.
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