Air Canada (TSE:AC) Stock Crosses Above 50 Day Moving Average – Here’s Why

Air Canada (TSE:AC) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$18.81 and traded as high as C$21.98. Air Canada shares last traded at C$21.97, with a volume of 3,950,250 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. National Bank Financial cut their price target on shares of Air Canada from C$25.00 to C$22.00 in a report on Thursday, April 2nd. Jefferies Financial Group lifted their price target on shares of Air Canada from C$17.00 to C$19.00 in a report on Tuesday, March 31st. BMO Capital Markets cut their price target on shares of Air Canada from C$27.00 to C$26.00 in a report on Tuesday, March 31st. Stifel Nicolaus cut their price target on shares of Air Canada from C$28.00 to C$25.50 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Finally, Scotiabank lowered shares of Air Canada from an “outperform” rating to a “hold” rating and cut their price target for the stock from C$27.00 to C$21.00 in a report on Tuesday, March 10th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Air Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.39.

Air Canada Stock Up 3.3%

The stock has a market capitalization of C$6.31 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 0.02 and a beta of 1.63. The company has a debt-to-equity ratio of 452.24, a current ratio of 0.60 and a quick ratio of 1.06. The business’s fifty day moving average price is C$18.81 and its two-hundred day moving average price is C$19.08.

Air Canada (TSE:AC) last announced its quarterly earnings data on Thursday, April 30th. The company reported C($0.05) earnings per share for the quarter. The company 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%. On average, equities research analysts forecast that Air Canada will post 2.5789474 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.