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Air Canada (ACDVF) Dips More Than Broader Markets: What You Should Know
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Air Canada (ACDVF - Free Report) closed the most recent trading day at $18.61, moving -0.08% from the previous trading session. This change lagged the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.23%, while the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the company had gained 3.24% over the past month, lagging the Transportation sector's gain of 7.11% and the S&P 500's gain of 5.14% in that time.
Investors will be hoping for strength from Air Canada as it approaches its next earnings release. In that report, analysts expect Air Canada to post earnings of $0.38 per share. This would mark year-over-year growth of 126.57%.
Investors might also notice recent changes to analyst estimates for Air Canada. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.48% higher. Air Canada is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Air Canada is holding a Forward P/E ratio of 15.65. Its industry sports an average Forward P/E of 9.33, so we one might conclude that Air Canada is trading at a premium comparatively.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 41, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Air Canada (ACDVF) Dips More Than Broader Markets: What You Should Know
Air Canada (ACDVF - Free Report) closed the most recent trading day at $18.61, moving -0.08% from the previous trading session. This change lagged the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.23%, while the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the company had gained 3.24% over the past month, lagging the Transportation sector's gain of 7.11% and the S&P 500's gain of 5.14% in that time.
Investors will be hoping for strength from Air Canada as it approaches its next earnings release. In that report, analysts expect Air Canada to post earnings of $0.38 per share. This would mark year-over-year growth of 126.57%.
Investors might also notice recent changes to analyst estimates for Air Canada. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.48% higher. Air Canada is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Air Canada is holding a Forward P/E ratio of 15.65. Its industry sports an average Forward P/E of 9.33, so we one might conclude that Air Canada is trading at a premium comparatively.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 41, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.