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Air Canada (ACDVF) Stock Sinks As Market Gains: What You Should Know
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Air Canada (ACDVF - Free Report) closed at $14.07 in the latest trading session, marking a -1.33% move from the prior day. This move lagged the S&P 500's daily gain of 0.01%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 0.67%.
Prior to today's trading, shares of the company had lost 15.04% over the past month. This has lagged the Transportation sector's loss of 6.01% and the S&P 500's loss of 4.45% in that time.
Wall Street will be looking for positivity from Air Canada as it approaches its next earnings report date.
Any recent changes to analyst estimates for Air Canada should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Air Canada is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Air Canada currently has a Forward P/E ratio of 7.63. This valuation marks a discount compared to its industry's average Forward P/E of 7.96.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 29% of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Air Canada (ACDVF) Stock Sinks As Market Gains: What You Should Know
Air Canada (ACDVF - Free Report) closed at $14.07 in the latest trading session, marking a -1.33% move from the prior day. This move lagged the S&P 500's daily gain of 0.01%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 0.67%.
Prior to today's trading, shares of the company had lost 15.04% over the past month. This has lagged the Transportation sector's loss of 6.01% and the S&P 500's loss of 4.45% in that time.
Wall Street will be looking for positivity from Air Canada as it approaches its next earnings report date.
Any recent changes to analyst estimates for Air Canada should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Air Canada is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Air Canada currently has a Forward P/E ratio of 7.63. This valuation marks a discount compared to its industry's average Forward P/E of 7.96.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 29% of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.