Brokerages Set Air Canada (TSE:AC) Target Price at C$23.50

Shares of Air Canada (TSE:AC) have earned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is C$23.39.

A number of brokerages have recently commented on AC. Raymond James Financial cut shares of Air Canada from a “moderate buy” rating to a “hold” rating in a report on Tuesday, February 17th. TD reduced their target price on shares of Air Canada from C$23.00 to C$21.00 in a report on Monday, April 20th. Canaccord Genuity Group reduced their target price on shares of Air Canada from C$21.00 to C$20.00 and set a “hold” rating for the company in a report on Monday. BMO Capital Markets reduced their target price on shares of Air Canada from C$27.00 to C$26.00 in a report on Tuesday, March 31st. Finally, Scotiabank cut shares of Air Canada from an “outperform” rating to a “hold” rating and reduced their target price for the company from C$27.00 to C$21.00 in a report on Tuesday, March 10th.

Air Canada Price Performance

Shares of TSE:AC opened at C$18.80 on Friday. The company has a 50-day simple moving average of C$18.47 and a 200-day simple moving average of C$18.91. Air Canada has a one year low of C$14.78 and a one year high of C$23.72. The company has a debt-to-equity ratio of 452.24, a quick ratio of 1.06 and a current ratio of 0.60. The stock has a market capitalization of C$5.54 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 0.02 and a beta of 1.63.

Air Canada (TSE:AC) last announced its 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 business had revenue of C$5.79 billion during the quarter. On average, analysts predict that Air Canada will post 2.5789474 EPS for the current year.

About Air Canada

Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.