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 fifty day moving average during trading on Thursday . The stock has a fifty 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.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AC. BMO Capital Markets cut their target price on Air Canada from C$27.00 to C$26.00 in a research report on Tuesday, March 31st. TD cut their target price on Air Canada from C$23.00 to C$21.00 in a research report on Monday, April 20th. Jefferies Financial Group upped their target price on Air Canada from C$17.00 to C$19.00 in a research report on Tuesday, March 31st. JPMorgan Chase & Co. cut their target price on Air Canada from C$27.00 to C$23.00 in a research report on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce cut their target price on Air Canada from C$25.00 to C$22.00 in a research report on Wednesday, April 8th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.39.

Air Canada Price Performance

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

Air Canada (TSE:AC) last issued its quarterly earnings data 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 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.