Air Canada (TSE:AC) Share Price Passes Above 50-Day Moving Average – Here’s What Happened

Air Canada (TSE:AC)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$19.30 and traded as high as C$21.96. Air Canada shares last traded at C$21.33, with a volume of 2,127,367 shares traded.

Wall Street Analysts Forecast Growth

AC has been the subject of several recent analyst reports. Stifel Nicolaus lowered their price target on Air Canada from C$28.00 to C$25.50 and set a “buy” rating for the company in a report on Tuesday, April 28th. BMO Capital Markets lowered their price target on Air Canada from C$27.00 to C$26.00 in a report on Tuesday, March 31st. Royal Bank Of Canada lowered their price target on Air Canada from C$25.00 to C$22.00 in a report on Monday, April 13th. ATB Cormark Capital Markets lowered their price target on Air Canada from C$33.00 to C$32.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Finally, Scotiabank cut Air Canada from an “outperform” rating to a “hold” rating and lowered their price target for the company from C$27.00 to C$21.00 in a report on Tuesday, March 10th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$23.39.

Air Canada Stock Down 0.3%

The firm has a 50-day moving average of C$19.30 and a 200 day moving average of C$19.21. The stock has a market capitalization of C$6.12 billion, a price-to-earnings ratio of 8.81, a price-to-earnings-growth ratio of 0.02 and a beta of 2.08. The company has a current ratio of 0.60, a quick ratio of 1.06 and a debt-to-equity ratio of 452.24.

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

Air Canada Company Profile

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.