Scotia Issues Positive Forecast for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its price target raised by stock analysts at Scotia from C$33.50 to C$37.50 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector outperform” rating on the stock. Scotia’s price objective points to a potential upside of 27.42% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus raised 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. UBS Group increased their price target on Air Canada from C$24.00 to C$33.00 in a research report on Thursday, August 13th. ATB Cormark Capital Markets raised their price objective on Air Canada from C$32.00 to C$45.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Royal Bank Of Canada boosted their price objective on Air Canada from C$28.00 to C$37.00 and gave the company an “outperform” rating in a research report on Thursday, August 13th. Finally, National Bank Financial upped their target price on Air Canada from C$29.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Air Canada presently has a consensus rating of “Moderate Buy” and an average target price of C$32.29.

Air Canada Stock Performance

AC stock traded down C$0.47 during midday trading on Wednesday, hitting C$29.43. 998,427 shares of the stock traded hands, compared to its average volume of 2,948,172. The firm has a market cap of C$8.24 billion, a P/E ratio of 22.47, a PEG ratio of 0.02 and a beta of 2.02. The company has a debt-to-equity ratio of 478.10, a current ratio of 0.60 and a quick ratio of 1.05. The stock’s fifty day simple moving average is C$24.81 and its 200-day simple moving average is C$21.27. Air Canada has a 1-year low of C$16.45 and a 1-year high of C$31.45.

Air Canada (TSE:AC) last released its quarterly earnings data on Tuesday, August 11th. The company reported C$0.40 earnings per share for the quarter. The company had revenue of C$6.27 billion during the quarter. Air Canada had a net margin of 1.82% and a return on equity of 16.92%. On average, analysts expect that Air Canada will post 2.5789474 earnings per share for the current year.

Air Canada Company Profile

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.