Air Canada (TSE:AC) Stock Price Crosses Above 50 Day Moving Average – What’s Next?

Air Canada (TSE:AC) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$18.40 and traded as high as C$19.15. Air Canada shares last traded at C$18.78, with a volume of 2,112,273 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AC shares. JPMorgan Chase & Co. reduced their price target on shares of Air Canada from C$27.00 to C$23.00 in a research report on Monday, May 4th. National Bank Financial reduced their price target on shares of Air Canada from C$25.00 to C$22.00 in a research report on Thursday, April 2nd. Scotiabank cut shares of Air Canada from an “outperform” rating to a “hold” rating and reduced their price target for the stock from C$27.00 to C$21.00 in a research report on Tuesday, March 10th. ATB Cormark Capital Markets cut their target price on shares of Air Canada from C$33.00 to C$32.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Finally, Stifel Nicolaus cut their target price on shares of Air Canada from C$28.00 to C$25.50 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Air Canada presently has an average rating of “Moderate Buy” and a consensus target price of C$23.39.

Air Canada Price Performance

The stock’s 50 day moving average is C$18.40 and its two-hundred day moving average is C$18.99. 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 stock has a market capitalization of C$5.39 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 0.02 and a beta of 1.63.

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

Air Canada Company Profile

Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.