Air Canada (TSE:AC) Share Price Crosses Above 50 Day Moving Average – What’s Next?
by Renee Jackson · The Cerbat GemAir Canada (TSE:AC – Get Free Report) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-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
AC has been the topic of a number of analyst reports. Raymond James Financial cut shares of Air Canada from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. lowered their target price on shares of Air Canada from C$27.00 to C$23.00 in a research note on Monday, May 4th. Scotiabank cut shares of Air Canada from an “outperform” rating to a “hold” rating and lowered their target price for the company from C$27.00 to C$21.00 in a research note on Tuesday, March 10th. National Bank Financial lowered their target price on shares of Air Canada from C$25.00 to C$22.00 in a research note on Thursday, April 2nd. Finally, Canadian Imperial Bank of Commerce lowered their target price on shares of Air Canada from C$25.00 to C$22.00 in a research note on Wednesday, April 8th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$23.39.
Read Our Latest Report on Air Canada
Air Canada Stock Performance
The company has a debt-to-equity ratio of 452.24, a quick ratio of 1.06 and a current ratio of 0.60. The company has a market capitalization of C$6.34 billion, a P/E ratio of 9.12, a P/E/G ratio of 0.02 and a beta of 1.63. The business’s fifty day simple moving average is C$18.98 and its 200-day simple moving average is C$19.12.
Air Canada (TSE:AC – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported C($0.05) earnings per share (EPS) for the quarter. The company had revenue of C$5.79 billion during the quarter. Air Canada had a net margin of 3.46% and a return on equity of 34.23%. As a group, equities analysts anticipate that Air Canada will post 2.5789474 earnings per share 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.