Air Canada (OTCMKTS:ACDVF) Lowered to "Hold" Rating by National Bank Financial

Key Points

• Air Canada has been downgraded by National Bank Financial from a "strong-buy" rating to a "hold" rating, reflecting a shift in investment sentiment.
• The company reported earnings per share of $0.43 for the last quarter, missing estimates and generating a revenue of $4.14 billion, which was also below analyst expectations.
• As of now, the stock has an average rating of "Hold", with varying opinions from analysts, including one Strong Buy and one Sell rating.

Air Canada (OTCMKTS:ACDVF - Get Free Report) was downgraded by investment analysts at National Bank Financial from a "strong-buy" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Scotiabank reiterated an "outperform" rating on shares of Air Canada in a research report on Wednesday, July 30th. Zacks Research upgraded shares of Air Canada to a "hold" rating in a research report on Tuesday, August 12th. Finally, National Bankshares downgraded shares of Air Canada from an "outperform" rating to a "sector perform" rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold".

Air Canada Price Performance

Air Canada stock opened at $13.23 on Tuesday. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 4.83 and a beta of 1.95. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 5.38. The business has a 50-day simple moving average of $14.21 and a 200 day simple moving average of $13.01. Air Canada has a 52 week low of $8.56 and a 52 week high of $18.56.

Air Canada (OTCMKTS:ACDVF - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.07). Air Canada had a net margin of 6.83% and a return on equity of 45.69%. The business had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $5.55 billion. On average, research analysts forecast that Air Canada will post 1.66 earnings per share for the current fiscal year.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names in the Canadian market, the Canada-U.S. transborder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.

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