Air Canada (TSE:AC) Hits New 1-Year High – Here’s Why

Air Canada (TSE:AC) shares reached a new 52-week high on Thursday . The company traded as high as C$24.95 and last traded at C$24.87, with a volume of 299184 shares trading hands. The stock had previously closed at C$24.74.

Analysts Set New Price Targets

AC has been the topic of a number of recent analyst reports. TD decreased their price target on Air Canada from C$23.00 to C$21.00 in a report on Monday, April 20th. Stifel Nicolaus cut their target price on Air Canada from C$28.00 to C$25.50 and set a “buy” rating for the company in a research report on Tuesday, April 28th. JPMorgan Chase & Co. decreased their target price on Air Canada from C$27.00 to C$23.00 in a research note on Monday, May 4th. Scotiabank downgraded Air Canada from an “outperform” rating to a “hold” rating and dropped their price target for the stock from C$27.00 to C$21.00 in a research note on Tuesday, March 10th. Finally, Jefferies Financial Group increased their price objective on shares of Air Canada from C$17.00 to C$19.00 in a report on Tuesday, March 31st. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$23.73.

Air Canada Stock Up 0.1%

The firm has a market cap of C$7.11 billion, a P/E ratio of 10.24, a price-to-earnings-growth ratio of 0.02 and a beta of 2.08. The company’s 50-day simple moving average is C$21.06 and its 200 day simple moving average is C$19.81. The company has a debt-to-equity ratio of 452.24, a current ratio of 0.60 and a quick ratio of 1.05.

Air Canada (TSE:AC) last posted its earnings results on Thursday, April 30th. The company reported C($0.05) earnings per share for the quarter. The business had revenue of C$5.79 billion during the quarter. Air Canada had a return on equity of 34.23% and a net margin of 3.46%. Research analysts anticipate that Air Canada will post 2.5789474 EPS 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.