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Why the Market Dipped But Air Canada (ACDVF) Gained Today
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Air Canada (ACDVF - Free Report) closed at $14.23 in the latest trading session, marking a +0.14% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.88%. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq lost 2.05%.
The the stock of company has risen by 1.5% in the past month, leading the Transportation sector's loss of 5.27% and the S&P 500's loss of 2.57%.
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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Air Canada is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Air Canada is presently trading at a Forward P/E ratio of 4.27. This indicates a discount in contrast to its industry's Forward P/E of 9.12.
The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 93, positioning it in the top 37% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why the Market Dipped But Air Canada (ACDVF) Gained Today
Air Canada (ACDVF - Free Report) closed at $14.23 in the latest trading session, marking a +0.14% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.88%. Elsewhere, the Dow gained 0.56%, while the tech-heavy Nasdaq lost 2.05%.
The the stock of company has risen by 1.5% in the past month, leading the Transportation sector's loss of 5.27% and the S&P 500's loss of 2.57%.
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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Air Canada is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Air Canada is presently trading at a Forward P/E ratio of 4.27. This indicates a discount in contrast to its industry's Forward P/E of 9.12.
The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 93, positioning it in the top 37% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.