Air Canada (TSE:AC) PT Lowered to C$28.00

Air Canada (TSE:AC) had its target price cut by research analysts at National Bankshares from C$30.00 to C$28.00 in a report released on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ target price would suggest a potential upside of 57.66% from the stock’s previous close.

A number of other analysts have also issued reports on AC. Scotiabank lowered their price target on Air Canada from C$30.00 to C$29.00 and set an “outperform” rating on the stock in a research note on Thursday, March 28th. Royal Bank of Canada set a C$18.00 price objective on Air Canada and gave the stock a “sector perform” rating in a research note on Thursday, April 4th. TD Securities reduced their target price on Air Canada from C$34.00 to C$33.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Jefferies Financial Group cut their price objective on Air Canada from C$20.00 to C$19.00 in a report on Thursday, June 20th. Finally, ATB Capital boosted their price objective on Air Canada from C$32.00 to C$33.00 in a report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$29.18.

Air Canada Price Performance

AC traded down C$0.18 during trading on Wednesday, hitting C$17.76. The company’s stock had a trading volume of 694,308 shares, compared to its average volume of 2,176,265. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,767.66. Air Canada has a twelve month low of C$16.04 and a twelve month high of C$26.04. The business’s fifty day simple moving average is C$18.30 and its 200 day simple moving average is C$18.53. The firm has a market capitalization of C$6.37 billion, a price-to-earnings ratio of 3.08, a P/E/G ratio of 0.02 and a beta of 2.40.

Air Canada (TSE:AC) last issued its quarterly earnings data on Thursday, May 2nd. The company reported C($0.27) EPS for the quarter, missing the consensus estimate of C($0.15) by C($0.12). The business had revenue of C$5.23 billion during the quarter, compared to the consensus estimate of C$5.13 billion. On average, equities research analysts forecast that Air Canada will post 3.1906412 EPS for the current fiscal year.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names 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.