Yahoo Finance Air Canada (ACDVF) Stock Falls Amid Market Uptick: What Investors Need to Know
The most recent trading session ended with Air Canada (ACDVF) standing at $14.57, reflecting a -0.06% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 1.11%. On the other hand, the Dow registered a gain of 0.8%, and the technology-centric Nasdaq increased by 1.24%.
The company's stock has climbed by 9.38% in the past month, exceeding the Transportation sector's gain of 0.33% and the S&P 500's gain of 0.48%.
The upcoming earnings release of Air Canada will be of great interest to investors.
It is also important to note the recent changes to analyst estimates for Air Canada. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Air Canada is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Air Canada currently has a Forward P/E ratio of 4.38. This denotes a discount relative to the industry's average Forward P/E of 8.83.
The Transportation - Airline industry is part of the Transportation sector. At present, this industry carries a Zacks Industry Rank of 48, placing it within the top 20% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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) : Free Stock Analysis Report
