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Air Canada (ACDVF) Increases Despite Market Slip: Here's What You Need to Know
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In the latest trading session, Air Canada (ACDVF - Free Report) closed at $14.42, marking a +0.77% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.15% for the day. Elsewhere, the Dow saw a downswing of 0.42%, while the tech-heavy Nasdaq appreciated by 0.09%.
The company's stock has climbed by 8.08% in the past month, exceeding the Transportation sector's gain of 2.9% and the S&P 500's gain of 3.5%.
The investment community will be paying close attention to the earnings performance of Air Canada in its upcoming release.
It is also important to note the recent changes to analyst estimates for Air Canada. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Air Canada holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Air Canada has a Forward P/E ratio of 4.71 right now. This signifies a discount in comparison to the average Forward P/E of 8.34 for its industry.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 66, this industry ranks in the top 27% 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.
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) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Air Canada (ACDVF - Free Report) closed at $14.42, marking a +0.77% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.15% for the day. Elsewhere, the Dow saw a downswing of 0.42%, while the tech-heavy Nasdaq appreciated by 0.09%.
The company's stock has climbed by 8.08% in the past month, exceeding the Transportation sector's gain of 2.9% and the S&P 500's gain of 3.5%.
The investment community will be paying close attention to the earnings performance of Air Canada in its upcoming release.
It is also important to note the recent changes to analyst estimates for Air Canada. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Air Canada holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Air Canada has a Forward P/E ratio of 4.71 right now. This signifies a discount in comparison to the average Forward P/E of 8.34 for its industry.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 66, this industry ranks in the top 27% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.