Air Canada (AC) Forecasted to Post FY2017 Earnings of $4.02 Per Share

Air Canada (TSE:AC) – Investment analysts at Raymond James Financial issued their FY2017 earnings estimates for Air Canada in a research note issued to investors on Monday, according to Zacks Investment Research. Raymond James Financial analyst B. Cherniavsky expects that the company will post earnings per share of $4.02 for the year. Raymond James Financial also issued estimates for Air Canada’s Q4 2017 earnings at $0.14 EPS.

A number of other equities analysts have also recently issued reports on AC. Scotiabank boosted their price objective on Air Canada from C$27.00 to C$28.50 and gave the company a “sector perform” rating in a report on Wednesday, September 20th. Canaccord Genuity boosted their price objective on Air Canada from C$27.00 to C$31.00 and gave the company a “buy” rating in a report on Wednesday, September 20th. BMO Capital Markets restated an “outperform” rating and set a C$34.00 price objective on shares of Air Canada in a report on Wednesday, September 20th. Cowen upgraded Air Canada from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from C$23.00 to C$40.00 in a report on Wednesday, September 20th. Finally, TD Securities boosted their price objective on Air Canada from C$34.00 to C$36.00 and gave the company an “action list buy” rating in a report on Thursday, October 26th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of C$31.05.

Shares of Air Canada (TSE AC) traded up C$0.70 during trading on Wednesday, hitting C$24.49. The stock had a trading volume of 1,666,207 shares, compared to its average volume of 1,390,000. The stock has a market cap of $6,690.00, a PE ratio of 3.63 and a beta of 1.18. Air Canada has a 12-month low of C$12.49 and a 12-month high of C$28.70.

In other news, insider Chris Isford sold 15,000 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of C$25.45, for a total value of C$381,750.00. Also, insider Duncan Bureau sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of C$23.58, for a total value of C$47,160.00. Insiders sold a total of 48,544 shares of company stock valued at $1,125,897 over the last quarter.

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Air Canada Company Profile

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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Earnings History and Estimates for Air Canada (TSE:AC)

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