Air Canada (OTCMKTS:ACDVF) Shares Gap Down – Here’s Why

Shares of Air Canada (OTCMKTS:ACDVF) 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 traded.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ACDVF shares. Scotiabank restated an “outperform” rating on shares of Air Canada in a report on Wednesday, August 19th. BMO Capital Markets reissued an “outperform” rating on shares of Air Canada in a research report on Wednesday, August 12th. 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 restated an “outperform” rating on shares of Air Canada in a research note on Friday, August 14th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Air Canada in a research report on Thursday, August 13th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Air Canada has an average rating of “Moderate Buy”.

Air Canada Stock Performance

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 fifty day moving average is $19.85 and its two-hundred day moving average is $16.74. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 0.53 and a beta of 1.45.

Air Canada (OTCMKTS:ACDVF) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.18. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Air Canada had a net margin of 1.82% and a return on equity of 20.11%. On average, analysts predict that Air Canada will post 0.88 earnings per share for the current year.

About Air Canada

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.