Air Canada (TSE:AC) Stock Gets Price Target Reduction from BMO Capital Markets

Air Canada (TSE:AC) had its price target cut by BMO Capital Markets from C$35.00 to C$33.00 in a report released on Friday, BayStreet reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets‘s target price points to a potential upside of 64.18% from the stock’s current price.

Other analysts have also issued research reports about the stock. Canadian Imperial Bank of Commerce boosted their target price on shares of Air Canada from C$26.00 to C$40.00 in a research note on Friday, August 14th. Scotia lowered their price objective on Air Canada from C$33.00 to C$31.00 and set a “sector outperform” rating for the company in a research note on Friday. Stifel Nicolaus dropped their target price on Air Canada from C$38.00 to C$32.00 and set a “buy” rating on the stock in a research report on Thursday. Royal Bank Of Canada upped their price target on shares of Air Canada from C$28.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Finally, National Bank Financial cut their price objective on shares of Air Canada from C$37.00 to C$33.00 and set an “outperform” rating on the stock in a research report on Friday. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$31.00.

Air Canada Stock Performance

TSE:AC traded down C$1.77 during trading hours on Friday, reaching C$20.10. 4,124,617 shares of the stock were exchanged, compared to its average volume of 2,919,360. The stock has a market capitalization of C$5.08 billion, a P/E ratio of 15.34, a P/E/G ratio of 0.02 and a beta of 1.86. The firm has a 50 day simple moving average of C$25.88 and a 200-day simple moving average of C$22.34. The company has a quick ratio of 1.05, a current ratio of 0.60 and a debt-to-equity ratio of 478.10. 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 posted its quarterly earnings results on Thursday, October 29th. The company reported C$0.75 earnings per share (EPS) for the quarter. Air Canada had a return on equity of 16.92% and a net margin of 1.82%. The business had revenue of C$6.98 billion for the quarter. As a group, sell-side analysts forecast that Air Canada will post 2.58 earnings per share 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.