ATB Capital Cuts Air Canada (TSE:AC) Price Target to C$28.00

Air Canada (TSE:AC) had its target price lowered by ATB Capital from C$33.00 to C$28.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also weighed in on AC. Scotiabank cut their target price on shares of Air Canada from C$29.00 to C$27.00 and set an outperform rating for the company in a research report on Thursday, July 18th. Jefferies Financial Group reduced their price objective on shares of Air Canada from C$20.00 to C$19.00 in a research note on Thursday, June 20th. CIBC lowered their target price on shares of Air Canada from C$28.00 to C$25.00 and set an outperform rating on the stock in a report on Tuesday. Royal Bank of Canada reaffirmed a sector perform rating and issued a C$18.00 price target on shares of Air Canada in a report on Friday, July 5th. Finally, National Bankshares reduced their price target on Air Canada from C$28.00 to C$24.00 and set an outperform rating for the company in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of C$25.52.

Air Canada Trading Up 0.1 %

TSE:AC opened at C$16.16 on Tuesday. The firm’s 50 day moving average is C$17.52 and its 200 day moving average is C$18.35. Air Canada has a 12 month low of C$15.93 and a 12 month high of C$24.76. The stock has a market capitalization of C$5.79 billion, a PE ratio of 2.80, a price-to-earnings-growth 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 (TSE:AC) last issued its earnings results on Thursday, May 2nd. The company reported C($0.27) earnings per share (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 analysts’ expectations of C$5.13 billion. Sell-side analysts expect that Air Canada will post 3.1906412 earnings per share for the current year.

Air Canada Company Profile

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.