Air Canada (TSE:AC) Price Target Cut to C$28.00

Air Canada (TSE:AC) had its price target cut by BMO Capital Markets from C$33.00 to C$28.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 73.37% from the company’s previous close.

Other analysts also recently issued reports about the stock. Raymond James reduced their price target on shares of Air Canada from C$28.00 to C$22.00 and set an “outperform” rating for the company in a report on Tuesday. TD Securities decreased their price objective on shares of Air Canada from C$33.00 to C$25.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Jefferies Financial Group decreased their price objective on shares of Air Canada from C$20.00 to C$19.00 in a report on Thursday, June 20th. National Bankshares decreased 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. Finally, ATB Capital reduced their target price on shares of Air Canada from C$33.00 to C$28.00 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 issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$25.52.

Air Canada Stock Up 0.7 %

Air Canada stock opened at C$16.15 on Wednesday. The firm has a market cap of C$5.79 billion, a PE ratio of 2.80, a P/E/G ratio of 0.02 and a beta of 2.40. The company has a debt-to-equity ratio of 1,767.66, a quick ratio of 1.06 and a current ratio of 0.85. The firm’s 50 day moving average price is C$17.57 and its two-hundred day moving average price is C$18.37. Air Canada has a twelve month low of C$15.93 and a twelve month high of C$24.94.

Air Canada (TSE:AC) last posted 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 business had revenue of C$5.23 billion for the quarter, compared to the consensus estimate of C$5.13 billion. On average, research analysts predict 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.