Back to top

Image: Bigstock

Air Canada (ACDVF) Registers a Bigger Fall Than the Market: Important Facts to Note

Read MoreHide Full Article

In the latest market close, Air Canada (ACDVF - Free Report) reached $13.86, with a -1.88% movement compared to the previous day. This change lagged the S&P 500's 0.57% loss on the day. On the other hand, the Dow registered a gain of 0.07%, and the technology-centric Nasdaq decreased by 1.64%.

Coming into today, shares of the company had gained 8.03% in the past month. In that same time, the Transportation sector gained 4.57%, while the S&P 500 gained 4%.

The investment community will be closely monitoring the performance of Air Canada in its forthcoming earnings report.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Air Canada. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering 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 is currently a Zacks Rank #3 (Hold).

In terms of valuation, Air Canada is currently trading at a Forward P/E ratio of 4.64. This denotes a discount relative to the industry's average Forward P/E of 8.34.

The Transportation - Airline industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 93, finds itself in the top 37% echelons of all 250+ industries.

The Zacks Industry Rank is ordered 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.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Air Canada (ACDVF) - free report >>

Published in