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Air Canada (ACDVF) Ascends But Remains Behind Market: Some Facts to Note
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Air Canada (ACDVF - Free Report) closed the most recent trading day at $13.55, moving +0.37% from the previous trading session. This move lagged the S&P 500's daily gain of 0.63%. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw an increase of 0.82%.
The the stock of company has risen by 1.09% in the past month, leading the Transportation sector's gain of 0.44% and undershooting the S&P 500's gain of 1.76%.
Analysts and investors alike will be keeping a close eye on the performance of Air Canada in its upcoming earnings disclosure.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Air Canada. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 21.53% higher. As of now, Air Canada holds a Zacks Rank of #4 (Sell).
In the context of valuation, Air Canada is at present trading with a Forward P/E ratio of 4.05. This indicates a discount in contrast to its industry's Forward P/E of 8.49.
The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 76, positioning it in the top 31% of all 250+ industries.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Air Canada (ACDVF) Ascends But Remains Behind Market: Some Facts to Note
Air Canada (ACDVF - Free Report) closed the most recent trading day at $13.55, moving +0.37% from the previous trading session. This move lagged the S&P 500's daily gain of 0.63%. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw an increase of 0.82%.
The the stock of company has risen by 1.09% in the past month, leading the Transportation sector's gain of 0.44% and undershooting the S&P 500's gain of 1.76%.
Analysts and investors alike will be keeping a close eye on the performance of Air Canada in its upcoming earnings disclosure.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Air Canada. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 21.53% higher. As of now, Air Canada holds a Zacks Rank of #4 (Sell).
In the context of valuation, Air Canada is at present trading with a Forward P/E ratio of 4.05. This indicates a discount in contrast to its industry's Forward P/E of 8.49.
The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 76, positioning it in the top 31% of all 250+ industries.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.