Canaccord Genuity Group Downgrades Air Canada (OTCMKTS:ACDVF) to Hold

Air Canada (OTCMKTS:ACDVF) was downgraded by equities researchers at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday,Zacks.com reports.

A number of other equities analysts have also issued reports on ACDVF. Zacks Research raised Air Canada from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 27th. Raymond James Financial downgraded shares of Air Canada from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Scotiabank lowered shares of Air Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Air Canada in a report on Sunday, February 15th. Finally, ATB Cormark Capital Markets downgraded shares of Air Canada from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 16th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Air Canada Price Performance

Air Canada stock opened at $12.07 on Friday. Air Canada has a 52-week low of $8.56 and a 52-week high of $17.25. The firm has a fifty day moving average of $14.29 and a 200-day moving average of $13.73. The firm has a market capitalization of $3.54 billion, a P/E ratio of 8.32, a PEG ratio of 0.23 and a beta of 1.39. The company has a quick ratio of 0.53, a current ratio of 0.56 and a debt-to-equity ratio of 3.32.

Air Canada (OTCMKTS:ACDVF) last announced its earnings results on Thursday, February 12th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.20 by $0.27. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $5.56 billion. Air Canada had a return on equity of 22.50% and a net margin of 2.92%. As a group, analysts predict that Air Canada will post 1.66 EPS 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.