National Bankshares Trims Air Canada (TSE:AC) Target Price to C$24.00

Air Canada (TSE:AC) had its target price decreased by National Bankshares from C$28.00 to C$24.00 in a report released on Monday morning, BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

Several other analysts have also recently commented on AC. Jefferies Financial Group reduced their price objective on shares of Air Canada from C$20.00 to C$19.00 in a research note on Thursday, June 20th. BMO Capital Markets dropped their target price on shares of Air Canada from C$32.00 to C$30.00 and set an outperform rating for the company in a report on Thursday, July 18th. Royal Bank of Canada restated a sector perform rating and set a C$18.00 target price on shares of Air Canada in a report on Friday, July 5th. CIBC dropped their target price on shares of Air Canada from C$30.00 to C$28.00 and set an outperform rating for the company in a report on Friday, May 3rd. Finally, TD Securities dropped their target price on shares of Air Canada from C$33.00 to C$25.00 and set a buy rating for the company in a report on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of C$25.52.

Air Canada Stock Down 2.4 %

Shares of TSE AC opened at C$16.03 on Monday. The company has a quick ratio of 1.06, a current ratio of 0.85 and a debt-to-equity ratio of 1,767.66. Air Canada has a 52 week low of C$15.97 and a 52 week high of C$25.60. The firm has a 50-day moving average price of C$17.62 and a 200 day moving average price of C$18.38. The stock has a market capitalization of C$5.75 billion, a price-to-earnings ratio of 2.78, a price-to-earnings-growth ratio of 0.02 and a beta of 2.40.

Air Canada (TSE:AC) last announced 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 company had revenue of C$5.23 billion for the quarter, compared to analysts’ expectations of C$5.13 billion. Equities research analysts anticipate that Air Canada will post 3.1906412 EPS for the current fiscal year.

About Air Canada

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.