Chorus Aviation (TSE:CHR) Shares Cross Above Fifty Day Moving Average – Here’s Why

Chorus Aviation Inc. (TSE:CHR)’s stock price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$23.16 and traded as high as C$23.56. Chorus Aviation shares last traded at C$23.35, with a volume of 20,825 shares trading hands.

Analyst Ratings Changes

A number of research firms recently commented on CHR. Canadian Imperial Bank of Commerce decreased their target price on shares of Chorus Aviation from C$32.00 to C$31.00 in a research report on Wednesday, January 21st. Royal Bank Of Canada increased their target price on shares of Chorus Aviation from C$31.00 to C$35.00 and gave the company an “outperform” rating in a research report on Thursday, February 19th. National Bank Financial decreased their target price on shares of Chorus Aviation from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Stifel Nicolaus increased their target price on shares of Chorus Aviation from C$31.00 to C$32.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Finally, Scotiabank raised shares of Chorus Aviation from a “hold” rating to an “outperform” rating and increased their target price for the company from C$26.00 to C$30.00 in a research report on Tuesday, February 17th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, Chorus Aviation has a consensus rating of “Buy” and a consensus target price of C$30.71.

Chorus Aviation Price Performance

The stock’s 50-day moving average is C$23.16 and its 200 day moving average is C$22.43. The company has a debt-to-equity ratio of 73.68, a current ratio of 1.30 and a quick ratio of 0.53. The company has a market cap of C$546.74 million, a PE ratio of 7.76, a PEG ratio of 0.65 and a beta of 1.49.

Chorus Aviation (TSE:CHR) last issued its quarterly earnings results on Thursday, February 12th. The company reported C$0.67 earnings per share (EPS) for the quarter. Chorus Aviation had a net margin of 5.98% and a return on equity of 14.89%. The business had revenue of C$320.19 million for the quarter. On average, equities analysts anticipate that Chorus Aviation Inc. will post 0.3 earnings per share for the current fiscal year.

Chorus Aviation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, March 13th. This is a positive change from Chorus Aviation’s previous quarterly dividend of $0.08. Chorus Aviation’s dividend payout ratio (DPR) is currently 5.32%.

About Chorus Aviation

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.