Royal Bank Of Canada Issues Positive Forecast for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its target price raised by equities research analysts at Royal Bank Of Canada from C$22.00 to C$28.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 14.75% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. ATB Cormark Capital Markets dropped their price target on shares of Air Canada from C$33.00 to C$32.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Canaccord Genuity Group decreased their price objective on Air Canada from C$21.00 to C$20.00 and set a “hold” rating for the company in a report on Monday, May 4th. BMO Capital Markets lowered their target price on Air Canada from C$27.00 to C$26.00 in a research report on Tuesday, March 31st. Scotiabank downgraded Air Canada from an “outperform” rating to a “hold” rating and cut their target price for the stock from C$27.00 to C$21.00 in a report on Tuesday, March 10th. Finally, Jefferies Financial Group upped their price target on Air Canada from C$17.00 to C$19.00 in a research report on Tuesday, March 31st. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Air Canada presently has an average rating of “Moderate Buy” and an average target price of C$23.82.

Air Canada Price Performance

AC traded down C$0.27 on Monday, reaching C$24.40. The stock had a trading volume of 961,809 shares, compared to its average volume of 3,058,220. The company has a current ratio of 0.60, a quick ratio of 1.05 and a debt-to-equity ratio of 452.24. The company has a market capitalization of C$7.00 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 0.02 and a beta of 2.08. Air Canada has a fifty-two week low of C$16.45 and a fifty-two week high of C$24.95. The firm has a 50-day moving average of C$20.71 and a 200-day moving average of C$19.68.

Air Canada (TSE:AC) last announced its quarterly earnings results on Thursday, April 30th. The company reported C($0.05) EPS for the quarter. The firm had revenue of C$5.79 billion for the quarter. Air Canada had a net margin of 3.46% and a return on equity of 34.23%. As a group, sell-side analysts anticipate that Air Canada will post 2.5789474 EPS for the current 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.