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

Key Points

• Air Canada shares experienced a gap down, opening at $12.50 after closing at $12.89, with the last trade being at $12.66 on Friday.
• The stock was recently downgraded by National Bank Financial from a "strong-buy" to a "hold" rating, while also receiving a "hold" upgrade from Zacks Research.
• Air Canada reported a missed earnings estimate for the last quarter, with EPS of $0.43 against a consensus of $0.50, and revenues of $4.14 billion versus expected $5.55 billion.

Shares of Air Canada (OTCMKTS:ACDVF - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $12.89, but opened at $12.50. Air Canada shares last traded at $12.66, with a volume of 5,031 shares traded.

Analyst Upgrades and Downgrades

ACDVF has been the subject of a number of research reports. National Bank Financial downgraded Air Canada from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Zacks Research upgraded Air Canada to a "hold" rating in a report on Tuesday, August 12th. Scotiabank reiterated an "outperform" rating on shares of Air Canada in a report on Wednesday, July 30th. Finally, National Bankshares lowered Air Canada from an "outperform" rating to a "sector perform" rating in a research note on Tuesday. One equities 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 given a Sell rating to the company. According to MarketBeat, Air Canada currently has a consensus rating of "Hold".

Air Canada Price Performance

The business has a fifty day moving average of $14.16 and a 200-day moving average of $13.02. The firm has a market cap of $3.79 billion, a PE ratio of 4.68 and a beta of 1.95. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt-to-equity ratio of 5.38.

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

Air Canada Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.