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

Key Points

• Air Canada shares fell 4% at the open, dropping from a prior close of $18.43 to $17.70 before trading at $18.00.
• Analysts maintain a generally positive outlook, with six Buy ratings and five Holds, resulting in a “Moderate Buy” consensus rating.
• Air Canada exceeded quarterly expectations, reporting $0.29 in EPS versus the $0.11 consensus and revenue of $4.41 billion against the $4.34 billion estimate.

Air Canada (OTCMKTS:ACDVF - Get Free Report) gapped down prior to trading on Monday. The stock had previously closed at $18.43, but opened at $17.70. Air Canada shares last traded at $18.00, with a volume of 1,775 shares.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ACDVF shares. National Bank Financial restated an "outperform" rating on shares of Air Canada in a research report on Wednesday, August 12th. BMO Capital Markets reissued an "outperform" rating on shares of Air Canada in a research report on Wednesday, August 12th. Jefferies Financial Group reissued a "hold" rating on shares of Air Canada in a research report on Thursday, August 13th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Air Canada in a research report on Friday, August 14th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Air Canada in a research note on Thursday, August 13th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Air Canada currently has an average rating of "Moderate Buy".

Air Canada Price Performance

The stock has a market capitalization of $5.02 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 0.52 and a beta of 1.45. The company has a quick ratio of 0.56, a current ratio of 0.60 and a debt-to-equity ratio of 3.52. The stock's 50 day moving average price is $19.83 and its 200-day moving average price is $16.66.

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

Air Canada Company Profile

Air Canada is Canada's national flag carrier and one of the country's largest airlines. Headquartered in Montreal, Quebec, the company provides scheduled passenger air transportation to destinations across Canada, the United States, Europe, Asia-Pacific, Latin America and the Caribbean. Its network is supported by regional service operated under the Air Canada Express brand and leisure-focused flights operated by Air Canada Rouge.

The company's principal businesses include passenger airline services, air cargo transportation and vacation travel.

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