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

Air Canada (TSE:AC)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$19.66 and traded as high as C$21.62. Air Canada shares last traded at C$21.50, with a volume of 2,374,771 shares changing hands.

Analyst Ratings Changes

Several research firms have recently weighed in on AC. Scotiabank downgraded Air Canada from an “outperform” rating to a “hold” rating and decreased their target price for the company from C$27.00 to C$21.00 in a research report on Tuesday, March 10th. Jefferies Financial Group boosted their price target on Air Canada from C$17.00 to C$19.00 in a research report on Tuesday, March 31st. National Bank Financial reduced their price objective on Air Canada from C$25.00 to C$22.00 in a research note on Thursday, April 2nd. JPMorgan Chase & Co. decreased their price objective on Air Canada from C$27.00 to C$23.00 in a report on Monday, May 4th. Finally, BMO Capital Markets lowered their target price on shares of Air Canada from C$27.00 to C$26.00 in a research note on Tuesday, March 31st. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$23.39.

Air Canada Stock Performance

The company has a current ratio of 0.60, a quick ratio of 1.06 and a debt-to-equity ratio of 452.24. The stock’s fifty day simple moving average is C$19.66 and its 200 day simple moving average is C$19.34. The company has a market cap of C$6.17 billion, a price-to-earnings ratio of 8.88, a P/E/G ratio of 0.02 and a beta of 2.08.

Air Canada (TSE:AC) last posted its quarterly earnings results on Thursday, April 30th. The company reported C($0.05) earnings per share (EPS) for the quarter. Air Canada had a net margin of 3.46% and a return on equity of 34.23%. The company had revenue of C$5.79 billion during the quarter. As a group, 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.