Air Canada (TSE:AC) Stock Has Consensus Price Target of C$32.73 According to Brokerages

Key Points

• Air Canada has a “Moderate Buy” consensus rating from 11 analysts: eight recommend buying, two advise holding, and one recommends selling. The average 12-month price target is C$32.73.
• Several brokerages recently raised their targets, including CIBC to C$40, RBC to C$37, and Stifel Nicolaus to C$38; Canaccord Genuity upgraded the stock to “buy” but lowered its target to C$25.
• Air Canada shares opened at C$21.11, down 4.7%, with a market capitalization of C$5.34 billion. The company reported quarterly revenue of C$6.27 billion and EPS of C$0.40, while analysts expect full-year EPS of C$2.58.

Shares of Air Canada (TSE:AC - Get Free Report) have been given an average rating of "Moderate Buy" by the eleven ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is C$32.73.

A number of brokerages have recently commented on AC. Canadian Imperial Bank of Commerce increased their price target on shares of Air Canada from C$26.00 to C$40.00 in a report on Friday, August 14th. Royal Bank Of Canada upped their target price 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. Canaccord Genuity Group raised Air Canada from a "hold" rating to a "buy" rating and reduced their target price for the company from C$29.00 to C$25.00 in a research note on Thursday. Stifel Nicolaus raised their price target on Air Canada from C$30.00 to C$38.00 and gave the company a "buy" rating in a research report on Wednesday, August 19th. Finally, UBS Group lifted their price target on Air Canada from C$24.00 to C$33.00 in a research note on Thursday, August 13th.

Air Canada Stock Down 4.7%

AC stock opened at C$21.11 on Friday. The company's 50 day moving average is C$26.48 and its 200 day moving average is C$23.70. The stock has a market cap of C$5.34 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 0.02 and a beta of 1.86. The company has a current ratio of 0.60, a quick ratio of 1.05 and a debt-to-equity ratio of 478.10. Air Canada has a 1-year low of C$16.45 and a 1-year high of C$31.45.

Air Canada (TSE:AC - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported C$0.40 earnings per share (EPS) for the quarter. Air Canada had a net margin of 1.82% and a return on equity of 16.92%. The business had revenue of C$6.27 billion during the quarter. Sell-side analysts predict that Air Canada will post 2.58 EPS 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.

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