Chorus Aviation (TSE:CHR) Stock Price Down 1.1% - Here's Why

Key Points

• Chorus Aviation's stock price decreased by 1.1%, closing at C$22.53, with volumes down by 33% from the average.
• Several brokerages have raised their target prices for Chorus Aviation, with Royal Bank of Canada setting it at C$27.00 and CIBC at C$29.00, both giving an "outperform" rating.
• The company has declared a quarterly dividend of $0.08, reflecting an annualized dividend yield of 1.42%, amid a significant dividend payout ratio of -79.24%.

Shares of Chorus Aviation Inc. (TSE:CHR - Get Free Report) dropped 1.1% on Tuesday . The company traded as low as C$22.53 and last traded at C$22.53. Approximately 33,672 shares were traded during trading, a decline of 33% from the average daily volume of 49,904 shares. The stock had previously closed at C$22.77.

Analyst Ratings Changes

CHR has been the subject of a number of analyst reports. CIBC raised their price objective on Chorus Aviation from C$28.00 to C$29.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Royal Bank Of Canada lifted their target price on Chorus Aviation from C$25.00 to C$27.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, TD Securities lifted their target price on Chorus Aviation from C$27.00 to C$29.00 and gave the stock a "buy" rating in a report on Thursday, May 8th.

Chorus Aviation Stock Down 0.5%

The company has a quick ratio of 0.53, a current ratio of 1.13 and a debt-to-equity ratio of 118.79. The company has a market cap of C$592.64 million, a P/E ratio of -36.02, a price-to-earnings-growth ratio of 0.65 and a beta of 2.14. The company has a fifty day moving average of C$21.69 and a 200 day moving average of C$18.23.

Chorus Aviation Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 15th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, July 31st. This represents a $0.32 annualized dividend and a yield of 1.5%. Chorus Aviation's payout ratio is -79.24%.

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.