Air Canada (TSE:AC) Stock Gets Price Target Reduction from Royal Bank Of Canada

Air Canada (TSE:AC) had its price target decreased by Royal Bank Of Canada from C$37.00 to C$28.00 in a report issued on Monday,BayStreet reports. Royal Bank Of Canada currently has an outperform rating on the stock.

AC has been the topic of several other research reports. Canaccord Genuity Group raised Air Canada from a “hold” rating to a “buy” rating and cut their price objective for the company from C$29.00 to C$25.00 in a report on Thursday, October 22nd. UBS Group upped their target price on Air Canada from C$24.00 to C$33.00 in a report on Thursday, August 13th. BMO Capital Markets dropped their target price on Air Canada from C$35.00 to C$33.00 and set an “outperform” rating for the company in a research report on Friday, October 30th. Scotiabank cut their price target on Air Canada from C$37.50 to C$33.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 15th. Finally, Jefferies Financial Group lowered Air Canada from a “hold” rating to a “moderate sell” rating and cut their price target for the company from C$26.00 to C$19.00 in a research note on Monday, October 19th. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.31.

Air Canada Price Performance

AC stock opened at C$22.48 on Monday. The company has a 50 day simple moving average of C$25.27 and a 200 day simple moving average of C$22.38. The stock has a market cap of C$5.68 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 0.02 and a beta of 1.64. Air Canada has a 1 year low of C$16.45 and a 1 year high of C$31.45. The company has a debt-to-equity ratio of 517.55, a current ratio of 0.64 and a quick ratio of 1.05.

Air Canada (TSE:AC) last issued its earnings results on Thursday, October 29th. The company reported C$0.75 earnings per share for the quarter. The firm had revenue of C$6.98 billion for the quarter. Air Canada had a net margin of 1.23% and a return on equity of 12.10%. Research analysts anticipate 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.