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Air Canada (ACDVF) Gains But Lags Market: What You Should Know
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Air Canada (ACDVF - Free Report) closed at $18.77 in the latest trading session, marking a +0.43% move from the prior day. This change lagged the S&P 500's 0.67% gain on the day. Meanwhile, the Dow gained 0.93%, and the Nasdaq, a tech-heavy index, added 9.29%.
Heading into today, shares of the company had gained 10.19% over the past month, outpacing the Transportation sector's gain of 6.61% and the S&P 500's gain of 2.65% 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 $0.51 per share. This would mark year-over-year growth of 135.66%.
Investors should also note any recent changes to analyst estimates for Air Canada. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 38.26% higher within the past month. 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 11.76. This valuation marks a discount compared to its industry's average Forward P/E of 11.97.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 49, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Air Canada (ACDVF) Gains But Lags Market: What You Should Know
Air Canada (ACDVF - Free Report) closed at $18.77 in the latest trading session, marking a +0.43% move from the prior day. This change lagged the S&P 500's 0.67% gain on the day. Meanwhile, the Dow gained 0.93%, and the Nasdaq, a tech-heavy index, added 9.29%.
Heading into today, shares of the company had gained 10.19% over the past month, outpacing the Transportation sector's gain of 6.61% and the S&P 500's gain of 2.65% 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 $0.51 per share. This would mark year-over-year growth of 135.66%.
Investors should also note any recent changes to analyst estimates for Air Canada. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 38.26% higher within the past month. 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 11.76. This valuation marks a discount compared to its industry's average Forward P/E of 11.97.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 49, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.