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Air Canada (ACDVF) Outperforms Broader Market: What You Need to Know
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Air Canada (ACDVF - Free Report) closed the latest trading day at $13.23, indicating a +1.69% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 1.06%. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 1.2%.
Shares of the company witnessed a loss of 13.5% over the previous month, trailing the performance of the Transportation sector with its loss of 4.12% and the S&P 500's loss of 3%.
Analysts and investors alike will be keeping a close eye on the performance of Air Canada in its upcoming earnings disclosure.
Any recent changes to analyst estimates for Air Canada should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Air Canada is carrying a Zacks Rank of #3 (Hold).
Investors should also note Air Canada's current valuation metrics, including its Forward P/E ratio of 6.96. For comparison, its industry has an average Forward P/E of 7.01, which means Air Canada is trading at a discount to the group.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 236, this industry ranks in the bottom 7% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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) Outperforms Broader Market: What You Need to Know
Air Canada (ACDVF - Free Report) closed the latest trading day at $13.23, indicating a +1.69% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 1.06%. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 1.2%.
Shares of the company witnessed a loss of 13.5% over the previous month, trailing the performance of the Transportation sector with its loss of 4.12% and the S&P 500's loss of 3%.
Analysts and investors alike will be keeping a close eye on the performance of Air Canada in its upcoming earnings disclosure.
Any recent changes to analyst estimates for Air Canada should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Air Canada is carrying a Zacks Rank of #3 (Hold).
Investors should also note Air Canada's current valuation metrics, including its Forward P/E ratio of 6.96. For comparison, its industry has an average Forward P/E of 7.01, which means Air Canada is trading at a discount to the group.
The Transportation - Airline industry is part of the Transportation sector. With its current Zacks Industry Rank of 236, this industry ranks in the bottom 7% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.