Cormark Comments on Air Canada’s Q3 2017 Earnings (AC)

Air Canada (TSE:AC) – Equities researchers at Cormark increased their Q3 2017 earnings per share (EPS) estimates for Air Canada in a research report issued on Friday. Cormark analyst D. Tyerman now anticipates that the company will post earnings per share of $3.46 for the quarter, up from their prior forecast of $3.28. Cormark also issued estimates for Air Canada’s Q3 2018 earnings at $3.73 EPS, FY2018 earnings at $4.98 EPS, FY2019 earnings at $5.16 EPS, FY2020 earnings at $5.32 EPS and FY2021 earnings at $6.36 EPS.

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Several other research analysts also recently issued reports on the stock. Canaccord Genuity upped their target price on shares of Air Canada from C$23.00 to C$27.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. BMO Capital Markets reiterated an “outperform” rating and issued a C$28.00 target price on shares of Air Canada in a research note on Wednesday, August 2nd. TD Securities upped their target price on shares of Air Canada from C$25.00 to C$34.00 and gave the stock an “action list buy” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada upped their target price on shares of Air Canada from C$25.00 to C$26.00 and gave the stock a “top pick” rating in a research note on Wednesday, August 2nd. Finally, Scotiabank upped their target price on shares of Air Canada from C$20.50 to C$27.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of C$25.17.

Air Canada (TSE AC) opened at 23.65 on Monday. Air Canada has a 52-week low of $9.13 and a 52-week high of $24.97. The firm has a market cap of $6.42 billion and a P/E ratio of 7.75. The stock has a 50 day moving average price of $21.96 and a 200 day moving average price of $17.12.

In other Air Canada news, insider Kevin C. Howlett sold 30,769 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of C$22.00, for a total value of C$676,918.00. Also, Director Calin Rovinescu sold 925,481 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of C$20.72, for a total transaction of C$19,175,966.32. In the last 90 days, insiders have sold 1,001,939 shares of company stock worth $20,827,620.

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.

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

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