National Bank Financial Cuts Air Canada (AC) Price Target to C$32.00

Air Canada (TSE:AC) had its price target reduced by National Bank Financial from C$33.00 to C$32.00 in a research note published on Tuesday. They currently have an outperform rating on the stock. National Bank Financial also issued estimates for Air Canada’s Q1 2018 earnings at ($0.63) EPS, FY2018 earnings at $2.28 EPS and FY2019 earnings at $3.92 EPS.

AC has been the subject of a number of other research reports. Macquarie raised shares of Air Canada from a neutral rating to an outperform rating and lifted their price objective for the company from C$28.00 to C$35.00 in a report on Tuesday, February 20th. JPMorgan Chase lifted their price objective on shares of Air Canada from C$27.00 to C$30.00 in a report on Tuesday, March 13th. Scotiabank raised shares of Air Canada from a sector perform rating to an outperform rating and lifted their price objective for the company from C$29.25 to C$32.00 in a report on Tuesday, February 20th. CIBC lifted their price objective on shares of Air Canada from C$36.00 to C$38.00 in a report on Thursday, January 4th. Finally, TD Securities lifted their price objective on shares of Air Canada from C$34.00 to C$36.00 and gave the company an action list buy rating in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of C$32.36.

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AC opened at C$24.96 on Tuesday. Air Canada has a fifty-two week low of C$12.49 and a fifty-two week high of C$29.11.

Air Canada (TSE:AC) last released its quarterly earnings data on Friday, February 16th. The company reported C$0.22 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.17 by C$0.05. Air Canada had a net margin of 7.67% and a return on equity of 113.41%. The company had revenue of C$3.82 billion during the quarter, compared to analysts’ expectations of C$3.75 billion.

In related news, Director Benjamin M. Smith sold 15,250 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of C$27.10, for a total transaction of C$413,275.00. Also, insider Pierre Houle sold 2,238 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of C$26.11, for a total transaction of C$58,434.18. In the last quarter, insiders sold 26,115 shares of company stock worth $709,400.

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Air Canada Company Profile

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Express 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.

Analyst Recommendations for Air Canada (TSE:AC)

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