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

Air Canada (OTCMKTS:ACDVF)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $15.79, but opened at $14.44. Air Canada shares last traded at $15.66, with a volume of 1,634 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Jefferies Financial Group restated a “hold” rating on shares of Air Canada in a research note on Sunday, February 15th. Scotiabank downgraded shares of Air Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. ATB Cormark Capital Markets lowered shares of Air Canada from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 16th. Zacks Research raised Air Canada from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Finally, Canaccord Genuity Group lowered Air Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Air Canada currently has a consensus rating of “Hold”.

Air Canada Stock Performance

The firm’s 50 day moving average price is $13.84 and its 200-day moving average price is $13.91. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 0.87 and a beta of 1.43. The company has a debt-to-equity ratio of 3.32, a current ratio of 0.56 and a quick ratio of 0.53.

Air Canada (OTCMKTS:ACDVF) last released its earnings results on Thursday, April 30th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.25. The firm had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Air Canada had a net margin of 3.45% and a return on equity of 27.71%. On average, analysts anticipate that Air Canada will post 0.56 earnings per share for the current year.

Air Canada Company Profile

Air Canada is the largest airline in Canada and one of the leading carriers in North America. Founded in 1937 as Trans-Canada Air Lines and rebranded as Air Canada in 1965, the company operates scheduled passenger and cargo services on six continents. The airline maintains membership in the Star Alliance network, offering seamless connections and coordinated loyalty benefits to travelers worldwide.

Through its mainline operations and subsidiaries—including Air Canada Rouge, Air Canada Cargo and Air Canada Vacations—the company provides a broad range of services.