Air Canada (TSE:AC) – Equities researchers at Cormark cut their Q2 2019 earnings estimates for Air Canada in a report released on Tuesday, May 7th, according to Zacks Investment Research. Cormark analyst D. Ocampo now expects that the company will earn $0.82 per share for the quarter, down from their previous forecast of $0.85. Cormark has a “Buy” rating and a $47.00 price objective on the stock. Cormark also issued estimates for Air Canada’s Q3 2019 earnings at $2.80 EPS, FY2019 earnings at $4.08 EPS, Q1 2020 earnings at $0.17 EPS, FY2020 earnings at $5.01 EPS, FY2021 earnings at $6.19 EPS, FY2022 earnings at $7.21 EPS and FY2023 earnings at $8.27 EPS.
Other analysts have also issued research reports about the company. JPMorgan Chase & Co. lifted their price objective on Air Canada from C$40.00 to C$42.00 in a report on Wednesday, May 8th. Royal Bank of Canada lifted their price objective on Air Canada from C$43.00 to C$46.00 in a report on Tuesday, May 7th. CIBC lifted their price objective on Air Canada from C$46.00 to C$48.00 in a report on Tuesday, May 7th. TD Securities lifted their price objective on Air Canada from C$42.00 to C$44.00 and gave the stock an “action list buy” rating in a report on Tuesday, May 7th. Finally, Raymond James lifted their price objective on Air Canada from C$29.00 to C$38.00 and gave the stock a “market perform” rating in a report on Tuesday, May 7th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of C$44.45.
In related news, Senior Officer Pierre Houle sold 1,955 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of C$35.81, for a total value of C$70,009.53.
Air Canada Company Profile
Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand name in the Canadian market, the Canada-U.S. transborder 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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