Air Canada (TSE:AC) Posts Quarterly Earnings Results

Air Canada (TSE:AC) posted its quarterly earnings data on Tuesday. The company reported C$0.40 EPS for the quarter, FiscalAI reports. Air Canada had a net margin of 3.46% and a return on equity of 34.23%. The business had revenue of C$6.27 billion during the quarter.

Air Canada Price Performance

Shares of AC opened at C$27.27 on Wednesday. The company has a market capitalization of C$7.83 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 0.02 and a beta of 2.02. Air Canada has a fifty-two week low of C$16.45 and a fifty-two week high of C$27.30. The firm has a 50-day simple moving average of C$23.93 and a 200-day simple moving average of C$20.89. The company has a debt-to-equity ratio of 452.24, a quick ratio of 1.05 and a current ratio of 0.60.

Analyst Ratings Changes

A number of analysts have recently weighed in on AC shares. ATB Cormark Capital Markets cut their price objective on Air Canada from C$33.00 to C$32.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Canaccord Genuity Group raised their target price on shares of Air Canada from C$20.00 to C$26.00 and gave the company a “hold” rating in a report on Monday, July 6th. TD dropped their price objective on shares of Air Canada from C$23.00 to C$21.00 in a research report on Monday, April 20th. National Bank Financial raised Air Canada from a “hold” rating to an “outperform” rating and increased their target price for the company from C$22.00 to C$29.00 in a report on Tuesday, July 7th. Finally, Scotiabank raised Air Canada from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from C$26.00 to C$33.50 in a research report on Tuesday. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Air Canada has an average rating of “Moderate Buy” and an average price target of C$26.29.

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.