Air Canada (AC) to Post FY2018 Earnings of $3.02 Per Share, National Bank Financial Forecasts
Air Canada (TSE:AC) – Research analysts at National Bank Financial decreased their FY2018 earnings per share estimates for Air Canada in a research report issued on Sunday. National Bank Financial analyst C. Doerksen now expects that the company will post earnings of $3.02 per share for the year, down from their previous estimate 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 brokerages also recently issued reports on AC. CIBC upped their price target on Air Canada from C$27.00 to C$34.00 in a research report on Friday, October 13th. Canaccord Genuity upped their price target on Air Canada from C$31.00 to C$33.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. BMO Capital Markets reduced their price target on Air Canada to C$34.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th. TD Securities upped their price target on 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. Finally, Royal Bank of Canada cut their target price on 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. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of C$31.05.
Air Canada (TSE:AC) last issued its quarterly earnings results on Wednesday, October 25th. The company reported C$3.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$3.27 by C$0.16. Air Canada had a return on equity of 113.41% and a net margin of 7.67%.
In other Air Canada news, Director Benjamin M. Smith sold 30,669 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of C$22.01, for a total transaction 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 value of C$381,750.00. Insiders have sold a total of 48,544 shares of company stock worth $1,125,897 over the last ninety days.
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.
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