Air Canada (TSE:AC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Air Canada (TSE:AC) have received a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$23.79.

Several brokerages have issued reports on AC. BMO Capital Markets cut their price objective on shares of Air Canada from C$33.00 to C$28.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. National Bankshares dropped their price target on Air Canada from C$28.00 to C$24.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Citigroup reduced their price target on Air Canada from C$25.00 to C$21.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Cormark lowered their price objective on Air Canada from C$25.50 to C$21.25 in a research report on Tuesday, July 23rd. Finally, ATB Capital dropped their target price on Air Canada from C$28.00 to C$27.00 in a report on Thursday, August 8th.

Air Canada Stock Down 1.2 %

AC opened at C$15.07 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99. The stock’s fifty day simple moving average is C$16.11 and its 200 day simple moving average is C$17.70. Air Canada has a 1-year low of C$14.47 and a 1-year high of C$21.51. The stock has a market cap of C$5.40 billion, a PE ratio of 3.36, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39.

Air Canada (TSE:AC) last posted its earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.85 by C$0.13. The company had revenue of C$5.52 billion during the quarter, compared to analysts’ expectations of C$5.55 billion. Air Canada had a net margin of 7.92% and a return on equity of 603.77%. As a group, research analysts expect that Air Canada will post 2.818854 earnings per share for the current year.

Insider Buying and Selling

In other news, Senior Officer Christophe Hennebelle bought 1,900 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of C$15.70 per share, with a total value of C$29,830.00. 0.14% of the stock is owned by company insiders.

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.