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Air Canada (ACDVF) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Air Canada (ACDVF - Free Report) closed at $14.85, marking a -1% move from the previous day. This change lagged the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Coming into today, shares of the company had lost 10.18% in the past month. In that same time, the Transportation sector lost 2.4%, while the S&P 500 gained 2.08%.
Air Canada will be looking to display strength as it nears its next earnings release.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Air Canada is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Air Canada is holding a Forward P/E ratio of 8.02. This valuation marks a discount compared to its industry's average Forward P/E of 8.11.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Air Canada (ACDVF - Free Report) closed at $14.85, marking a -1% move from the previous day. This change lagged the S&P 500's daily loss of 0.22%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 0.23%.
Coming into today, shares of the company had lost 10.18% in the past month. In that same time, the Transportation sector lost 2.4%, while the S&P 500 gained 2.08%.
Air Canada will be looking to display strength as it nears its next earnings release.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Air Canada is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Air Canada is holding a Forward P/E ratio of 8.02. This valuation marks a discount compared to its industry's average Forward P/E of 8.11.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 164, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.