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

Air Canada (TSE:AC)’s share price passed 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 Upgrades and Downgrades

Several research firms have recently issued reports on AC. BMO Capital Markets cut their price target on Air Canada from C$27.00 to C$26.00 in a research note on Tuesday, March 31st. JPMorgan Chase & Co. cut their price target on Air Canada from C$27.00 to C$23.00 in a research note on Monday, May 4th. Raymond James Financial downgraded Air Canada from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Scotiabank downgraded Air Canada from an “outperform” rating to a “hold” rating and cut their price target for the stock from C$27.00 to C$21.00 in a research note on Tuesday, March 10th. Finally, Canadian Imperial Bank of Commerce cut their price target on Air Canada from C$25.00 to C$22.00 in a research note on Wednesday, April 8th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Air Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of C$23.39.

Air Canada Stock Up 2.4%

The firm’s 50 day moving average is C$19.66 and its two-hundred day moving average is C$19.34. The stock 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. 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 announced its earnings results on Thursday, April 30th. The company reported C($0.05) earnings per share for the quarter. Air Canada had a net margin of 3.46% and a return on equity of 34.23%. The firm had revenue of C$5.79 billion during the quarter. On average, sell-side analysts predict that Air Canada will post 2.5789474 EPS 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.