Cormark Cuts Air Canada (TSE:AC) Price Target to C$21.25

Air Canada (TSE:AC) had its price objective cut by Cormark from C$25.50 to C$21.25 in a research note issued to investors on Tuesday, BayStreet.CA reports.

Several other equities analysts also recently commented on the stock. Royal Bank of Canada decreased their price target on shares of Air Canada from C$18.00 to C$17.00 and set a sector perform rating on the stock in a research note on Tuesday. Scotiabank dropped their target price on shares of Air Canada from C$29.00 to C$27.00 and set an outperform rating for the company in a report on Thursday, July 18th. ATB Capital dropped their target price on shares of Air Canada from C$33.00 to C$28.00 and set an outperform rating for the company in a report on Tuesday. Jefferies Financial Group dropped their target price on shares of Air Canada from C$20.00 to C$19.00 in a report on Thursday, June 20th. Finally, National Bankshares dropped their price objective on shares of Air Canada from C$28.00 to C$24.00 and set an outperform rating for the company in a report on Monday. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of C$25.52.

Air Canada Price Performance

Shares of AC opened at C$16.15 on Tuesday. Air Canada has a 1-year low of C$15.93 and a 1-year high of C$24.94. The company has a market cap of C$5.79 billion, a price-to-earnings ratio of 2.80, a PEG ratio of 0.02 and a beta of 2.40. The company’s fifty day simple moving average is C$17.57 and its 200 day simple moving average is C$18.37. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,767.66.

Air Canada (TSE:AC) last released its quarterly earnings data on Thursday, May 2nd. The company reported C($0.27) EPS for the quarter, missing the consensus estimate of C($0.15) by C($0.12). The business had revenue of C$5.23 billion for the quarter, compared to analysts’ expectations of C$5.13 billion. On average, research analysts forecast that Air Canada will post 3.1906412 earnings per share for the current fiscal year.

Air Canada Company Profile

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names in the Canadian market, the Canada-U.S. transborder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.