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Air Canada (ACDVF) Gains As Market Dips: What You Should Know
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The most recent trading session ended with Air Canada (ACDVF - Free Report) standing at $14.03, reflecting a +0.36% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.07% loss on the day. At the same time, the Dow added 0.16%, and the tech-heavy Nasdaq lost 0.36%.
The company's stock has dropped by 1.69% in the past month, exceeding the Transportation sector's loss of 2.2% and lagging the S&P 500's gain of 3.05%.
The upcoming earnings release of Air Canada will be of great interest to investors.
Investors should also note any recent changes to analyst estimates for Air Canada. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, there's been a 10.53% rise in the Zacks Consensus EPS estimate. Air Canada is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Air Canada is holding a Forward P/E ratio of 4.16. This represents a discount compared to its industry's average Forward P/E of 8.29.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 31, this industry ranks in the top 13% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Air Canada (ACDVF) Gains As Market Dips: What You Should Know
The most recent trading session ended with Air Canada (ACDVF - Free Report) standing at $14.03, reflecting a +0.36% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.07% loss on the day. At the same time, the Dow added 0.16%, and the tech-heavy Nasdaq lost 0.36%.
The company's stock has dropped by 1.69% in the past month, exceeding the Transportation sector's loss of 2.2% and lagging the S&P 500's gain of 3.05%.
The upcoming earnings release of Air Canada will be of great interest to investors.
Investors should also note any recent changes to analyst estimates for Air Canada. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, there's been a 10.53% rise in the Zacks Consensus EPS estimate. Air Canada is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Air Canada is holding a Forward P/E ratio of 4.16. This represents a discount compared to its industry's average Forward P/E of 8.29.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 31, this industry ranks in the top 13% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.