Yahoo Finance Air Canada (ACDVF) Stock Dips While Market Gains: Key Facts
The most recent trading session ended with Air Canada (ACDVF) standing at $13.90, reflecting a -1.84% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.74%. On the other hand, the Dow registered a loss of 0.01%, and the technology-centric Nasdaq increased by 1.68%.
Shares of the company witnessed a gain of 3.58% over the previous month, trailing the performance of the Transportation sector with its gain of 6.39% and outperforming the S&P 500's gain of 0.8%.
The investment community will be paying close attention to the earnings performance of Air Canada in its upcoming release.
Any recent changes to analyst estimates for Air Canada should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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, there's been no change in the Zacks Consensus EPS estimate. Air Canada is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Air Canada is presently being traded at a Forward P/E ratio of 4.25. Its industry sports an average Forward P/E of 9.25, so one might conclude that Air Canada is trading at a discount comparatively.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 88, this industry ranks in the top 35% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Air Canada (ACDVF) : Free Stock Analysis Report
