Short Interest in Air Canada (OTCMKTS:ACDVF) Drops By 26.7%

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

Wall Street Analysts Forecast Growth

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

Air Canada Trading Down 0.8 %

Air Canada stock opened at $17.29 on Friday. Air Canada has a one year low of $10.16 and a one year high of $17.81. The company’s fifty day moving average price is $13.25 and its two-hundred day moving average price is $12.77. The company has a debt-to-equity ratio of 9.32, a current ratio of 0.85 and a quick ratio of 0.81. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 3.57 and a beta of 2.05.

Air Canada (OTCMKTS:ACDVF) last issued its quarterly earnings data 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 business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.48 billion. Air Canada had a return on equity of 133.91% and a net margin of 11.53%. On average, analysts forecast that Air Canada will post 2.43 earnings per share for the current fiscal year.

About Air Canada

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.