Air Canada (OTCMKTS:ACDVF) Shares Down 6.8% – Here’s What Happened

Shares of Air Canada (OTCMKTS:ACDVF) dropped 6.8% during trading on Friday. The company traded as low as $16.33 and last traded at $16.33. 527 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 175,205 shares. The stock had previously closed at $17.53.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ACDVF. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Air Canada in a research note on Friday, August 14th. BMO Capital Markets restated an “outperform” rating on shares of Air Canada in a report on Wednesday, August 12th. National Bank Financial reaffirmed an “outperform” rating on shares of Air Canada in a research note on Wednesday, August 12th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Air Canada in a report on Thursday, August 13th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Air Canada in a research report on Thursday, August 13th. Six equities research analysts have rated the stock with a Buy rating and five have issued 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 stock has a market cap of $4.13 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 0.50 and a beta of 1.45. The stock’s fifty day moving average is $19.80 and its 200-day moving average is $16.80. The company has a quick ratio of 0.56, a current ratio of 0.60 and a debt-to-equity ratio of 3.52.

Air Canada (OTCMKTS:ACDVF) last issued its earnings results on Tuesday, August 11th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.11 by $0.18. The firm had revenue of $4.41 billion during 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%. On average, analysts forecast that Air Canada will post 0.9 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.