Air Canada (TSE:AC – Get Free Report)’s share price was down 5.4% during mid-day trading on Monday after TD Securities lowered their price target on the stock from C$25.00 to C$19.00. The company traded as low as C$16.12 and last traded at C$16.15. Approximately 1,185,574 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 2,136,701 shares. The stock had previously closed at C$17.07.
A number of other analysts have also recently commented on AC. National Bankshares dropped their price objective on shares of Air Canada from C$28.00 to C$24.00 and set an “outperform” rating on the stock in a report on Monday. Scotiabank decreased their target price on shares of Air Canada from C$27.00 to C$21.00 and set an “outperform” rating for the company in a research report on Wednesday. BMO Capital Markets cut their price target on Air Canada from C$33.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Wednesday. ATB Capital reduced their price objective on Air Canada from C$33.00 to C$28.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, CIBC lowered their target price on Air Canada from C$28.00 to C$25.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$25.52.
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Air Canada Trading Down 2.4 %
Air Canada (TSE:AC – Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported C($0.27) earnings per share for the quarter, missing the consensus estimate of C($0.15) by C($0.12). The firm had revenue of C$5.23 billion for the quarter, compared to analyst estimates of C$5.13 billion. As a group, 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.
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