Air Canada (TSE:AC) Given New C$21.00 Price Target at Scotiabank

Air Canada (TSE:AC) had its price objective decreased by equities researchers at Scotiabank from C$27.00 to C$21.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 30.03% from the company’s previous close.

Several other research analysts also recently weighed in on the company. National Bankshares lowered their target price on Air Canada from C$28.00 to C$24.00 and set an “outperform” rating on the stock in a research note on Monday. ATB Capital reduced their price target on Air Canada from C$33.00 to C$28.00 and set an “outperform” rating for the company in a report on Tuesday. BMO Capital Markets reduced their price target on Air Canada from C$33.00 to C$28.00 and set an “outperform” rating for the company in a report on Wednesday. TD Securities reduced their price target on Air Canada from C$33.00 to C$25.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Royal Bank of Canada reduced their price target on Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$25.52.

Air Canada Trading Up 0.7 %

Shares of AC stock opened at C$16.15 on Wednesday. The business’s 50 day moving average is C$17.57 and its two-hundred day moving average is C$18.37. Air Canada has a twelve month low of C$15.93 and a twelve month high of C$24.94. The company has a market capitalization of C$5.79 billion, a P/E 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 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 business had revenue of C$5.23 billion during the quarter, compared to the consensus estimate of C$5.13 billion. Equities analysts forecast that Air Canada will post 3.1906412 EPS 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.