Air Canada (TSE:AC) Given New C$31.00 Price Target at Scotia

Air Canada (TSE:AC) had its target price cut by equities research analysts at Scotia from C$33.00 to C$31.00 in a note issued to investors on Friday, BayStreet reports. The brokerage currently has a “sector outperform” rating on the stock. Scotia‘s price target would indicate a potential upside of 54.23% from the company’s previous close.

Several other brokerages also recently commented on AC. BMO Capital Markets increased their price objective on Air Canada from C$30.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Canaccord Genuity Group upgraded shares of Air Canada from a “hold” rating to a “buy” rating and cut their price target for the stock from C$29.00 to C$25.00 in a report on Thursday, October 22nd. Stifel Nicolaus cut their target price on Air Canada from C$38.00 to C$32.00 and set a “buy” rating on the stock in a research note on Thursday. Canadian Imperial Bank of Commerce increased their price target on Air Canada from C$26.00 to C$40.00 in a research report on Friday, August 14th. Finally, Royal Bank Of Canada upped their price objective on Air Canada from C$28.00 to C$37.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Air Canada has a consensus rating of “Moderate Buy” and an average target price of C$31.00.

Air Canada Trading Down 8.1%

Shares of Air Canada stock traded down C$1.77 during midday trading on Friday, reaching C$20.10. The company had a trading volume of 4,124,617 shares, compared to its average volume of 2,919,360. Air Canada has a fifty-two week low of C$16.45 and a fifty-two week high of C$31.45. The company has a debt-to-equity ratio of 478.10, a current ratio of 0.60 and a quick ratio of 1.05. The stock has a fifty day moving average price of C$25.88 and a 200 day moving average price of C$22.34. The firm has a market cap of C$5.08 billion, a PE ratio of 15.34, a P/E/G ratio of 0.02 and a beta of 1.86.

Air Canada (TSE:AC) last announced its quarterly earnings data on Thursday, October 29th. The company reported C$0.75 EPS for the quarter. The company had revenue of C$6.98 billion during the quarter. Air Canada had a net margin of 1.82% and a return on equity of 16.92%. On average, equities analysts anticipate that Air Canada will post 2.58 earnings per share for the current year.

Air Canada Company Profile

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.