Yahoo Finance Air Canada (ACDVF) Advances While Market Declines: Some Information for Investors
Air Canada (ACDVF) ended the recent trading session at $13.97, demonstrating a +0.72% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.31%. Meanwhile, the Dow lost 0.41%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Shares of the company have appreciated by 3.05% over the course of the past month, outperforming the Transportation sector's gain of 1.46% and mirroring the S&P 500.
Investors will be eagerly watching for the performance of Air Canada in its upcoming earnings disclosure.
Investors should also take note of any recent adjustments to analyst estimates for Air Canada. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Air Canada boasts a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Air Canada has a Forward P/E ratio of 4.17 right now. For comparison, its industry has an average Forward P/E of 8.51, which means Air Canada is trading at a discount to the group.
The Transportation - Airline industry is part of the Transportation sector. Currently, this industry holds a Zacks Industry Rank of 62, positioning it in the top 25% of all 250+ industries.
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.
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
