Air Canada (TSE:AC) Given New C$33.00 Price Target at Scotiabank

Air Canada (TSE:AC) had its price target cut by research analysts at Scotiabank from C$37.50 to C$33.00 in a research note issued on Thursday, BayStreet reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 49.39% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the stock. Canaccord Genuity Group dropped their price objective on shares of Air Canada from C$33.00 to C$29.00 and set a “hold” rating on the stock in a research note on Thursday, October 8th. Scotia lifted their price objective on shares of Air Canada from C$33.50 to C$37.50 and gave the company a “sector outperform” rating in a report on Wednesday, August 19th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Air Canada from C$26.00 to C$40.00 in a research note on Friday, August 14th. BMO Capital Markets upped their target price on Air Canada from C$30.00 to C$37.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Finally, Stifel Nicolaus increased their target price on Air Canada from C$30.00 to C$38.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$33.04.

Air Canada Trading Down 1.0%

Shares of TSE AC traded down C$0.22 during trading hours on Thursday, reaching C$22.09. The stock had a trading volume of 1,670,717 shares, compared to its average volume of 2,928,560. The company has a current ratio of 0.60, a quick ratio of 1.05 and a debt-to-equity ratio of 478.10. The firm has a market cap of C$5.58 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 0.02 and a beta of 1.86. The business’s fifty day moving average price is C$27.36 and its two-hundred day moving average price is C$23.55. Air Canada has a 52-week low of C$16.45 and a 52-week high of C$31.45.

Air Canada (TSE:AC) last announced its quarterly earnings results on Tuesday, August 11th. The company reported C$0.40 EPS for the quarter. The firm had revenue of C$6.27 billion for the quarter. Air Canada had a return on equity of 16.92% and a net margin of 1.82%. Analysts expect that Air Canada will post 2.58 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.