Air Canada (AC) Earns “Outperform Market Weight” Rating from National Bank Financial

National Bank Financial reissued their outperform market weight rating on shares of Air Canada (TSE:AC) in a research note released on Sunday. National Bank Financial also issued estimates for Air Canada’s FY2018 earnings at $3.02 EPS and FY2019 earnings at $3.87 EPS.

Several other brokerages have also commented on AC. BMO Capital Markets decreased their price target on Air Canada to C$34.00 and set an outperform rating on the stock in a research note on Thursday, October 26th. Cowen raised Air Canada from a market perform rating to an outperform rating and boosted their price target for the stock from C$23.00 to C$40.00 in a research note on Wednesday, September 20th. Canaccord Genuity boosted their price target on Air Canada from C$31.00 to C$33.00 and gave the stock a buy rating in a research note on Monday, October 23rd. Scotiabank boosted their price target on Air Canada from C$28.50 to C$30.00 and gave the stock a sector perform rating in a research note on Thursday, October 26th. Finally, CIBC boosted their price target on Air Canada from C$36.00 to C$38.00 in a research note on Thursday, January 4th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of C$31.05.

Shares of Air Canada (TSE:AC) opened at C$23.07 on Friday. Air Canada has a twelve month low of C$12.49 and a twelve month high of C$28.70. The firm has a market capitalization of $6,300.00, a P/E ratio of 3.42 and a beta of 1.18.

Air Canada (TSE:AC) last announced its quarterly earnings data on Wednesday, October 25th. The company reported C$3.43 earnings per share for the quarter, beating the Zacks’ consensus estimate 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, 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, Director Benjamin M. Smith sold 30,669 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of C$22.01, for a total value of C$675,024.69. In the last ninety days, insiders sold 48,544 shares of company stock worth $1,125,897.

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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.

Analyst Recommendations for Air Canada (TSE:AC)

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