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

Air Canada (OTCMKTS:ACDVF) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totalling 6,017,600 shares, a decline of 9.3% from the November 30th total of 6,635,900 shares. Based on an average daily volume of 326,900 shares, the days-to-cover ratio is presently 18.4 days.

Wall Street Analysts Forecast Growth

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

Air Canada Price Performance

OTCMKTS ACDVF opened at $15.44 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 3.47. The stock has a market capitalization of $5.40 billion, a PE ratio of 3.19 and a beta of 2.10. Air Canada has a 12-month low of $10.16 and a 12-month high of $18.56. The company has a 50 day moving average price of $16.33 and a two-hundred day moving average price of $13.54.

Air Canada (OTCMKTS:ACDVF) last released 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 business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.48 billion. Air Canada had a net margin of 11.53% and a return on equity of 82.89%. As a group, equities analysts predict that Air Canada will post 2.51 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.