Chorus Aviation (TSE:CHR) Shares Pass Below 50 Day Moving Average – Here’s Why

Chorus Aviation Inc. (TSE:CHR)’s stock price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$21.75 and traded as low as C$21.55. Chorus Aviation shares last traded at C$21.96, with a volume of 23,815 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have weighed in on CHR shares. Royal Bank Of Canada set a C$31.00 target price on Chorus Aviation and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. TD Securities boosted their price target on Chorus Aviation from C$30.00 to C$31.00 in a report on Monday, November 10th. BMO Capital Markets raised their price objective on Chorus Aviation from C$26.25 to C$28.00 in a research note on Monday, November 10th. Finally, CIBC decreased their target price on Chorus Aviation from C$33.00 to C$32.00 in a research report on Monday, November 10th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$29.20.

Chorus Aviation Trading Up 2.6%

The firm’s 50-day moving average price is C$21.75 and its 200 day moving average price is C$21.81. The company has a market cap of C$514.19 million, a price-to-earnings ratio of -18.15, a P/E/G ratio of 0.65 and a beta of 1.54. The company has a current ratio of 1.13, a quick ratio of 0.53 and a debt-to-equity ratio of 118.79.

Chorus Aviation (TSE:CHR) last issued its quarterly earnings data on Thursday, November 6th. The company reported C$0.60 earnings per share (EPS) for the quarter. The firm had revenue of C$323.57 million during the quarter. Chorus Aviation had a negative net margin of 7.57% and a negative return on equity of 11.70%. As a group, equities analysts expect that Chorus Aviation Inc. will post 0.3 EPS for the current year.

Chorus Aviation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 29th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, December 12th. Chorus Aviation’s payout ratio is currently -6.61%.

About Chorus Aviation

Chorus is an aviation solutions provider to customers worldwide. Its operating subsidiaries are: Jazz Aviation, the largest regional operator in Canada and provider of regional air services under the Air Canada Express brand; Voyageur Aviation, a leading provider of specialty charter, aircraft modifications, parts provisioning and in-service support services; and Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines. Together, Chorus’ subsidiaries provide services that encompass every stage of an aircraft’s lifecycle, including: aircraft acquisition and leasing; aircraft refurbishment, engineering, modification, repurposing and transition; contract flying; aircraft and component maintenance, disassembly, and parts provisioning; and pilot training.