Air Canada (OTCMKTS:ACDVF) Sees Significant Drop in Short Interest

Air Canada (OTCMKTS:ACDVF) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 9,070,700 shares, a decline of 26.7% from the October 15th total of 12,379,200 shares. Based on an average daily volume of 265,000 shares, the short-interest ratio is presently 34.2 days.

Air Canada Price Performance

Shares of ACDVF opened at $17.43 on Friday. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of 7.48 and a beta of 2.05. The firm’s fifty day simple moving average is $13.13 and its 200-day simple moving average is $12.74. The company has a current ratio of 0.85, a quick ratio of 0.81 and a debt-to-equity ratio of 9.32. Air Canada has a twelve month low of $10.16 and a twelve month high of $17.81.

Air Canada (OTCMKTS:ACDVF) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.72. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Air Canada had a net margin of 11.53% and a return on equity of 133.91%. Equities analysts forecast that Air Canada will post 2.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Stifel Canada upgraded shares of Air Canada from a “hold” rating to a “strong-buy” rating in a report on Sunday, November 3rd.

Air Canada Company Profile

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names in the Canadian market, the Canada-U.S. transborder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.