Shares of China Eastern Airlines Corp. (NYSE: CEA) are currently down 6.5% in today’s trading session after a report by Reuters stated that a domestic flight of the carrier crashed in the mountains in southern China with all those on board feared dead.
The Boeing 737-800 plane was carrying 123 passengers and nine crew members from Kunming to Guangzhou on Monday.
The cause of the crash is not yet known.
A rescue official said the plane had caught fire after disintegrating in the mountains.
Headquartered in Shanghai, China, Eastern Airlines offers passenger and cargo air transportation services across the world.
Wall Street’s Take
Last week, Credit Suisse (NYSE: CS) analyst Lok Kan Chan downgraded the rating on the stock to Sell but did not provide a price target.
Based on a single Sell assigned in the past three months, CEA stock has a Moderate Sell rating. None of the analysts covering the stock have provided a price target. Shares have lost about 30% over the past year.
China Eastern Website Traffic
TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (NYSE: SEMR), the world’s biggest website usage monitoring service, offers insight into CEA’s performance.
According to the tool, compared to the previous year, CEA’s website traffic registered a 19.4% fall in global visits in February. Moreover, the website traffic has declined 35.4% year-to-date against the same period last year.
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