Air Canada (TSE:AC) Reaches New 12-Month High - Here's What Happened

Key Points

• Air Canada shares reached a new 52-week high, trading as high as C$26.77 and last changing hands at C$26.71, up from the prior close of C$26.24.
• Analyst sentiment is generally positive: six analysts rate the stock a Buy and four rate it a Hold, resulting in a “Moderate Buy” consensus and an average target price of C$25.25.
• The company reported quarterly revenue of C$5.79 billion and a loss of C$0.05 per share, while its stock has 50-day and 200-day moving averages of C$23.37 and C$20.59, respectively.

Shares of Air Canada (TSE:AC - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$26.77 and last traded at C$26.71, with a volume of 649491 shares trading hands. The stock had previously closed at C$26.24.

Wall Street Analysts Forecast Growth

AC has been the topic of a number of recent research reports. BMO Capital Markets raised their price objective on Air Canada from C$26.00 to C$30.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. Canaccord Genuity Group increased their price objective on shares of Air Canada from C$20.00 to C$26.00 and gave the stock a "hold" rating in a research note on Monday, July 6th. TD reduced their price objective on Air Canada from C$23.00 to C$21.00 in a research note on Monday, April 20th. National Bank Financial raised shares of Air Canada from a "hold" rating to an "outperform" rating and boosted their target price for the stock from C$22.00 to C$29.00 in a research note on Tuesday, July 7th. Finally, ATB Cormark Capital Markets reduced their price target on Air Canada from C$33.00 to C$32.00 and set an "outperform" rating on the stock in a report on Wednesday, April 29th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Air Canada has an average rating of "Moderate Buy" and a consensus target price of C$25.25.

Air Canada Price Performance

The stock has a market cap of C$7.83 billion, a PE ratio of 10.92, a P/E/G ratio of 0.02 and a beta of 2.00. The company has a debt-to-equity ratio of 452.24, a quick ratio of 1.05 and a current ratio of 0.60. The business has a 50 day moving average price of C$23.37 and a two-hundred day moving average price of C$20.59.

Air Canada (TSE:AC - Get Free Report) last issued 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 return on equity of 34.23% and a net margin of 3.46%.The company had revenue of C$5.79 billion for the quarter. Research analysts expect 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, 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.

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