Air Canada (TSE:AC) Hits New 1-Year High – What’s Next?

Air Canada (TSE:AC) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$23.83 and last traded at C$23.80, with a volume of 1260561 shares. The stock had previously closed at C$23.13.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AC. 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. Royal Bank Of Canada lowered their price objective on Air Canada from C$25.00 to C$22.00 in a research report on Monday, April 13th. ATB Cormark Capital Markets cut their target price on 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. JPMorgan Chase & Co. reduced their target price on Air Canada from C$27.00 to C$23.00 in a report on Monday, May 4th. Finally, TD decreased their price target on Air Canada from C$23.00 to C$21.00 in a research note on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$23.39.

Air Canada Stock Down 2.7%

The company has a quick ratio of 1.05, a current ratio of 0.60 and a debt-to-equity ratio of 452.24. The company has a market cap of C$6.76 billion, a PE ratio of 9.73, a PEG ratio of 0.02 and a beta of 2.08. The company’s fifty day moving average is C$20.17 and its 200-day moving average is C$19.49.

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. The company had revenue of C$5.79 billion for the quarter. Air Canada had a net margin of 3.46% and a return on equity of 34.23%. On average, analysts predict that Air Canada will post 2.5789474 EPS for the current year.

About Air Canada

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.