Chorus Aviation (TSE:CHR) Stock Passes Below Fifty Day Moving Average – Here’s Why

Chorus Aviation Inc. (TSE:CHR)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$24.51 and traded as low as C$24.31. Chorus Aviation shares last traded at C$24.73, with a volume of 30,062 shares trading hands.

Analysts Set New Price Targets

Separately, TD upped their target price on Chorus Aviation from C$32.00 to C$33.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$31.00.

Chorus Aviation Trading Up 0.5%

The business’s 50 day simple moving average is C$24.51 and its two-hundred day simple moving average is C$23.47. The company has a quick ratio of 0.53, a current ratio of 1.38 and a debt-to-equity ratio of 76.81. The stock has a market cap of C$568.34 million, a P/E ratio of 9.51, a PEG ratio of 0.65 and a beta of 1.78.

Chorus Aviation (TSE:CHR) last posted its earnings results on Tuesday, August 4th. The company reported C$0.83 EPS for the quarter. The firm had revenue of C$349.42 million during the quarter. Chorus Aviation had a return on equity of 12.73% and a net margin of 5.16%. As a group, analysts expect that Chorus Aviation Inc. will post 0.3 EPS for the current year.

Chorus Aviation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, June 15th. Chorus Aviation’s dividend payout ratio (DPR) is currently 10.38%.

Chorus Aviation Company Profile

Chorus is a holding company which owns the following principal operating subsidiaries: 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; Cygnet Aviation Academy, an industry leading accredited training academy preparing pilots for direct entry into airlines; and Elisen & Associates, a leading provider of aerospace engineering and certification services.