Air Canada (OTCMKTS:ACDVF) Shares Gap Down - What's Next?

Key Points

• Air Canada shares opened lower at $19.01 versus the prior close of $19.79, but later recovered to $19.81 on light trading volume.
• Analyst sentiment remains positive overall: six analysts rate the stock a Buy and five rate it a Hold, producing a consensus “Moderate Buy” rating.
• Air Canada exceeded quarterly expectations, reporting $0.29 in EPS versus the $0.11 consensus estimate and revenue of $4.41 billion compared with $4.34 billion expected.

Air Canada (OTCMKTS:ACDVF - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $19.79, but opened at $19.01. Air Canada shares last traded at $19.81, with a volume of 771 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ACDVF shares. Scotiabank reiterated an "outperform" rating on shares of Air Canada in a research note on Wednesday, August 19th. National Bank Financial restated an "outperform" rating on shares of Air Canada in a research note on Wednesday, August 12th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Air Canada in a report on Friday, August 14th. Jefferies Financial Group reiterated a "hold" rating on shares of Air Canada in a research note on Thursday, August 13th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Air Canada in a report on Wednesday, August 12th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

Air Canada Stock Up 0.2%

The company has a current ratio of 0.60, a quick ratio of 0.56 and a debt-to-equity ratio of 3.52. The firm has a market cap of $5.54 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 0.58 and a beta of 1.43. The stock has a fifty day simple moving average of $19.10 and a two-hundred day simple moving average of $16.12.

Air Canada (OTCMKTS:ACDVF - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.18. Air Canada had a return on equity of 20.11% and a net margin of 1.82%.The firm had revenue of $4.41 billion for the quarter, compared to analysts' expectations of $4.34 billion. As a group, sell-side analysts expect that Air Canada will post 0.88 EPS for the current fiscal year.

Air Canada Company Profile

Air Canada is Canada's flag carrier and the country's largest airline. The company provides scheduled passenger and cargo air transportation, serving destinations across Canada, the United States, Europe, Asia-Pacific, Latin America, the Caribbean and other international markets. Its principal hubs include Toronto, Montreal, Vancouver and Calgary.

Air Canada operates its mainline network alongside Air Canada Rouge, a leisure-focused carrier, and regional services provided through partner airlines under the Air Canada Express brand.

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