Chorus Aviation (TSE:CHR) Stock Crosses Below Fifty Day Moving Average - Time to Sell?

Key Points

• Technical signal: Chorus Aviation's share price dipped below its 50‑day moving average (50‑day = C$23.03), trading as low as C$22.81 and last at C$22.96, which may indicate near‑term technical weakness.
• Analysts bullish: Six analysts rate the stock a Buy with a consensus price target of C$30.71, and several firms recently raised ratings or targets, implying notable upside from current levels.
• Fundamentals and income: The company has a market cap of C$537.6M, a low P/E of 7.63 and PEG of 0.65, and recently increased its quarterly dividend to C$0.11 (annualized C$0.44, ~1.9% yield), though debt/equity is elevated at 73.68.

Chorus Aviation Inc. (TSE:CHR - Get Free Report)'s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$23.03 and traded as low as C$22.81. Chorus Aviation shares last traded at C$22.96, with a volume of 31,327 shares.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CHR shares. Royal Bank Of Canada lifted their price target on shares of Chorus Aviation from C$31.00 to C$35.00 and gave the stock an "outperform" rating in a research report on Thursday, February 19th. Scotiabank upgraded shares of Chorus Aviation from a "hold" rating to an "outperform" rating and lifted their price target for the stock from C$26.00 to C$30.00 in a research report on Tuesday, February 17th. National Bank Financial dropped their price target on Chorus Aviation from C$29.00 to C$28.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 17th. Stifel Nicolaus boosted their price objective on Chorus Aviation from C$31.00 to C$32.00 and gave the stock a "buy" rating in a report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce cut their price objective on Chorus Aviation from C$32.00 to C$31.00 in a report on Wednesday, January 21st. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$30.71.

Chorus Aviation Stock Performance

The company has a current ratio of 1.30, a quick ratio of 0.53 and a debt-to-equity ratio of 73.68. The stock has a market capitalization of C$537.61 million, a PE ratio of 7.63, a PEG ratio of 0.65 and a beta of 1.49. The firm's 50-day simple moving average is C$23.03 and its two-hundred day simple moving average is C$22.41.

Chorus Aviation (TSE:CHR - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported C$0.67 earnings per share for the quarter. Chorus Aviation had a net margin of 5.98% and a return on equity of 14.89%. The firm had revenue of C$320.19 million for the quarter. On average, equities research analysts expect that Chorus Aviation Inc. will post 0.3 earnings per share for the current fiscal year.

Chorus Aviation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend 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 is presently 5.32%.

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.

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