Air Canada (TSE:AC) Price Target Cut to C$33.00 by Analysts at BMO Capital Markets

Air Canada (TSE:AC) had its price objective reduced by research analysts at BMO Capital Markets from C$35.00 to C$33.00 in a research note issued to investors on Friday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets‘s target price would suggest a potential upside of 64.18% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. National Bank Financial dropped their price target on Air Canada from C$37.00 to C$33.00 and set an “outperform” rating on the stock in a research note on Friday. Scotia cut 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 report on Friday. Canaccord Genuity Group raised shares of Air Canada from a “hold” rating to a “buy” rating and lowered their price target for the stock from C$29.00 to C$25.00 in a research note on Thursday, October 22nd. UBS Group upped their target price on shares of Air Canada from C$24.00 to C$33.00 in a research report on Thursday, August 13th. Finally, Scotiabank reduced their price target on shares of Air Canada from C$37.50 to C$33.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 15th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$31.00.

Air Canada Stock Down 8.1%

AC traded down C$1.77 during trading hours on Friday, hitting C$20.10. 4,124,617 shares of the company’s stock were exchanged, compared to its average volume of 2,919,360. The firm has a market cap of C$5.08 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 0.02 and a beta of 1.86. Air Canada has a 12-month low of C$16.45 and a 12-month high of C$31.45. The company has a current ratio of 0.60, a quick ratio of 1.05 and a debt-to-equity ratio of 478.10. The firm has a 50 day moving average of C$25.88 and a 200 day moving average of C$22.34.

Air Canada (TSE:AC) last issued its quarterly earnings results on Thursday, October 29th. The company reported C$0.75 EPS for the quarter. The company had revenue of C$6.98 billion during the quarter. Air Canada had a net margin of 1.82% and a return on equity of 16.92%. Analysts predict that Air Canada will post 2.58 EPS for the current fiscal 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.