National Bankshares Issues Positive Forecast for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its price objective raised by National Bankshares from C$23.00 to C$24.00 in a research report released on Wednesday morning,BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

AC has been the subject of a number of other reports. Stifel Nicolaus reduced their target price on shares of Air Canada from C$25.00 to C$24.00 and set a “buy” rating for the company in a report on Friday, September 26th. National Bank Financial lowered Air Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. TD Securities decreased their target price on Air Canada from C$25.00 to C$22.00 in a report on Friday, September 26th. Canaccord Genuity Group cut their target price on Air Canada from C$28.00 to C$25.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. Finally, BMO Capital Markets decreased their price target on Air Canada from C$28.00 to C$27.00 in a research report on Thursday, October 9th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$24.23.

Air Canada Price Performance

TSE:AC opened at C$19.48 on Wednesday. The business’s 50-day moving average price is C$18.97 and its 200 day moving average price is C$19.30. The firm has a market cap of C$5.77 billion, a P/E ratio of -28.23, a PEG ratio of 0.02 and a beta of 1.75. Air Canada has a 52-week low of C$12.69 and a 52-week high of C$23.72. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00.

Air Canada (TSE:AC) last issued its quarterly earnings results on Tuesday, November 4th. The company reported C$0.75 earnings per share for the quarter. Air Canada had a net margin of 11.57% and a return on equity of 177.01%. The company had revenue of C$5.77 billion during the quarter. As a group, sell-side analysts predict that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

About Air Canada

Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.