Air Canada (TSE:AC) Stock Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• Price action: Air Canada shares climbed above their 50‑day moving average (50‑day MA C$18.35), trading as high as C$19.46 and last at C$19.34 on volume of 2,642,187 shares.
• Analyst view: Despite several downward price‑target cuts, consensus is a Moderate Buy with a consensus price target of C$24.46 (eight Buys, four Holds, one Sell).
• Recent results & fundamentals: The company reported C$0.75 EPS and C$5.77B revenue for the quarter, has a market cap of C$5.73B, a negative P/E (-28.03) and a high debt‑to‑equity ratio (400%).

Air Canada (TSE:AC - Get Free Report)'s stock price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$18.35 and traded as high as C$19.46. Air Canada shares last traded at C$19.34, with a volume of 2,642,187 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Air Canada from C$28.00 to C$27.00 in a research note on Thursday, October 9th. TD Securities cut their price target on shares of Air Canada from C$25.00 to C$22.00 in a report on Friday, September 26th. UBS Group upgraded Air Canada to a "hold" rating in a report on Tuesday, November 18th. Canaccord Genuity Group lowered their price objective on Air Canada from C$28.00 to C$25.00 and set a "buy" rating for the company in a research report on Thursday, September 25th. Finally, Stifel Nicolaus reduced their target price on Air Canada from C$25.00 to C$24.00 and set a "buy" rating on the stock in a research report on Friday, September 26th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Air Canada currently has an average rating of "Moderate Buy" and a consensus price target of C$24.46.

Air Canada Stock Up 1.3%

The firm has a market capitalization of C$5.73 billion, a price-to-earnings ratio of -28.03, a P/E/G ratio of 0.02 and a beta of 1.49. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00. The company's 50 day moving average price is C$18.35 and its 200 day moving average price is C$19.26.

Air Canada (TSE:AC - Get Free Report) last issued its earnings results on Tuesday, November 4th. The company reported C$0.75 earnings per share (EPS) for the quarter. Air Canada had a return on equity of 177.01% and a net margin of 11.57%.The company had revenue of C$5.77 billion during the quarter. As a group, research 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.

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