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Air Canada (ACDVF) Falls More Steeply Than Broader Market: What Investors Need to Know
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The latest trading session saw Air Canada (ACDVF - Free Report) ending at $13.66, denoting a -1.55% adjustment from its last day's close. This change lagged the S&P 500's 0.37% loss on the day. Meanwhile, the Dow experienced a drop of 0.62%, and the technology-dominated Nasdaq saw a decrease of 0.19%.
The company's shares have seen an increase of 2.37% over the last month, surpassing the Transportation sector's loss of 2.95% and the S&P 500's gain of 1.56%.
The investment community will be paying close attention to the earnings performance of Air Canada in its upcoming release.
Investors should also pay attention to any latest changes in analyst estimates for Air Canada. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.53% higher. Air Canada currently has a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Air Canada is currently being traded at a Forward P/E ratio of 4.13. This indicates a discount in contrast to its industry's Forward P/E of 8.53.
The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 47, positioning it in the top 19% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Falls More Steeply Than Broader Market: What Investors Need to Know
The latest trading session saw Air Canada (ACDVF - Free Report) ending at $13.66, denoting a -1.55% adjustment from its last day's close. This change lagged the S&P 500's 0.37% loss on the day. Meanwhile, the Dow experienced a drop of 0.62%, and the technology-dominated Nasdaq saw a decrease of 0.19%.
The company's shares have seen an increase of 2.37% over the last month, surpassing the Transportation sector's loss of 2.95% and the S&P 500's gain of 1.56%.
The investment community will be paying close attention to the earnings performance of Air Canada in its upcoming release.
Investors should also pay attention to any latest changes in analyst estimates for Air Canada. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.53% higher. Air Canada currently has a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Air Canada is currently being traded at a Forward P/E ratio of 4.13. This indicates a discount in contrast to its industry's Forward P/E of 8.53.
The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 47, positioning it in the top 19% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.