Air Canada (OTCMKTS:ACDVF) Shares Gap Down - Here's What Happened

Key Points

• Air Canada shares gapped down from a previous close of $13.68 to open at $13.06 before last trading at $13.66 with a trading volume of 1,006 shares.
• The company recently reported earnings per share (EPS) of $0.43, missing estimates of $0.50, and revenue of $4.14 billion compared to expectations of $5.55 billion.
• Analyst ratings for Air Canada include one Strong Buy, one Buy, one Hold, and one Sell, resulting in a consensus rating of "Moderate Buy".

Shares of Air Canada (OTCMKTS:ACDVF - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $13.68, but opened at $13.06. Air Canada shares last traded at $13.66, with a volume of 1,006 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ACDVF shares. Zacks Research upgraded shares of Air Canada to a "hold" rating in a research note on Tuesday, August 12th. Scotiabank reiterated an "outperform" rating on shares of Air Canada in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy".

Air Canada Trading Up 0.6%

The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 5.01 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 company's 50 day simple moving average is $14.37 and its two-hundred day simple moving average is $12.99.

Air Canada (OTCMKTS:ACDVF - Get Free Report) last announced its 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). The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $5.55 billion. Air Canada had a net margin of 6.83% and a return on equity of 45.69%. As a group, research analysts anticipate 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.