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Air Canada (ACDVF) Flat As Market Sinks: What You Should Know
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The latest trading session saw Air Canada (ACDVF - Free Report) ending at $12.45, denoting no adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.85%. At the same time, the Dow lost 0.75%, and the tech-heavy Nasdaq lost 0.96%.
The company's shares have seen a decrease of 14.49% over the last month, not keeping up with the Transportation sector's loss of 5.76% and the S&P 500's loss of 3.02%.
The investment community will be paying close attention to the earnings performance of Air Canada in its upcoming release.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Air Canada. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Air Canada presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Air Canada is holding a Forward P/E ratio of 6.66. This denotes a discount relative to the industry's average Forward P/E of 6.71.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 234, this industry ranks in the bottom 8% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Air Canada (ACDVF) Flat As Market Sinks: What You Should Know
The latest trading session saw Air Canada (ACDVF - Free Report) ending at $12.45, denoting no adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.85%. At the same time, the Dow lost 0.75%, and the tech-heavy Nasdaq lost 0.96%.
The company's shares have seen a decrease of 14.49% over the last month, not keeping up with the Transportation sector's loss of 5.76% and the S&P 500's loss of 3.02%.
The investment community will be paying close attention to the earnings performance of Air Canada in its upcoming release.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Air Canada. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Air Canada presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Air Canada is holding a Forward P/E ratio of 6.66. This denotes a discount relative to the industry's average Forward P/E of 6.71.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 234, this industry ranks in the bottom 8% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.