Brokerages Set Air Canada (TSE:AC) Target Price at C$23.39

Air Canada (TSE:AC) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$23.39.

Several equities research analysts recently commented on AC shares. Scotiabank cut Air Canada from an “outperform” rating to a “hold” rating and cut their price target for the company from C$27.00 to C$21.00 in a report on Tuesday, March 10th. Jefferies Financial Group raised their target price on Air Canada from C$17.00 to C$19.00 in a research note on Tuesday, March 31st. Royal Bank Of Canada cut their target price on Air Canada from C$25.00 to C$22.00 in a research note on Monday, April 13th. Raymond James Financial cut Air Canada from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Canaccord Genuity Group cut their target price on Air Canada from C$21.00 to C$20.00 and set a “hold” rating for the company in a research note on Monday, May 4th.

Air Canada Price Performance

Shares of Air Canada stock opened at C$22.07 on Thursday. Air Canada has a 12 month low of C$16.45 and a 12 month high of C$23.72. The company has a debt-to-equity ratio of 452.24, a current ratio of 0.60 and a quick ratio of 1.06. The stock has a market capitalization of C$6.34 billion, a P/E ratio of 9.12, a PEG ratio of 0.02 and a beta of 1.63. The business has a 50 day simple moving average of C$18.98 and a two-hundred day simple moving average of C$19.12.

Air Canada (TSE:AC) last posted its quarterly earnings results on Thursday, April 30th. The company reported C($0.05) EPS for the quarter. Air Canada had a net margin of 3.46% and a return on equity of 34.23%. The company had revenue of C$5.79 billion during the quarter. As a group, analysts predict that Air Canada will post 2.5789474 EPS for the current fiscal year.

About Air Canada

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.