Royal Bank of Canada Cuts Air Canada (TSE:AC) Price Target to C$17.00

Air Canada (TSE:AC) had its price target lowered by Royal Bank of Canada from C$18.00 to C$17.00 in a report published on Tuesday morning, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

AC has been the subject of a number of other reports. 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. National Bankshares cut their price target on Air Canada from C$28.00 to C$24.00 and set an outperform rating for the company in a report on Monday. TD Securities lowered their price objective on Air Canada from C$33.00 to C$25.00 and set a buy rating for the company in a research report on Wednesday, July 17th. CIBC decreased their target price on Air Canada from C$28.00 to C$25.00 and set an outperform rating for the company in a research report on Tuesday. Finally, BMO Capital Markets decreased their target price on Air Canada from C$32.00 to C$30.00 and set an outperform rating for the company in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Air Canada presently has a consensus rating of Moderate Buy and an average price target of C$25.52.

Air Canada Trading Up 0.7 %

Shares of Air Canada stock opened at C$16.15 on Tuesday. The company’s fifty day simple moving average is C$17.57 and its 200-day simple moving average is C$18.37. The company has a market cap of C$5.79 billion, a price-to-earnings ratio of 2.80, a PEG ratio of 0.02 and a beta of 2.40. 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 1 year low of C$15.93 and a 1 year high of C$24.94.

Air Canada (TSE:AC) last issued its earnings results 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 company had revenue of C$5.23 billion during the quarter, compared to analysts’ expectations of C$5.13 billion. As a group, sell-side analysts expect that Air Canada will post 3.1906412 EPS for the current 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.