Chorus Aviation (TSE:CHR) Reaches New 12-Month High - What's Next?

Key Points

• Chorus Aviation shares reached a new 52-week high of C$31.25, up 3.2% from the prior close, with the stock last trading at C$31.21.
• Analyst sentiment remains positive: eight analysts rate the stock a Buy, while recent price-target increases put the consensus target at C$33.28.
• The company reported quarterly revenue of C$349.42 million and EPS of C$0.83, and maintains a quarterly dividend of C$0.11 per share, equating to a 1.4% annual yield.

Chorus Aviation Inc. (TSE:CHR - Get Free Report) shares hit a new 52-week high during trading on Monday. The stock traded as high as C$31.25 and last traded at C$31.21, with a volume of 30,150 shares changing hands. The stock had previously closed at C$29.84.

Analysts Set New Price Targets

A number of brokerages have commented on CHR. BMO Capital Markets increased their target price on Chorus Aviation from C$28.00 to C$32.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Scotia raised their target price on Chorus Aviation from C$31.00 to C$33.50 and gave the stock a "sector outperform" rating in a research note on Thursday, August 6th. Stifel Nicolaus lifted their target price on shares of Chorus Aviation from C$32.00 to C$33.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Royal Bank Of Canada upped their target price on shares of Chorus Aviation from C$35.00 to C$39.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Finally, Scotiabank lifted their price objective on shares of Chorus Aviation from C$33.50 to C$37.00 and gave the stock a "sector outperform" rating in a research report on Thursday, October 15th. Eight investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of C$33.28.

Chorus Aviation Stock Up 3.2%

The business has a 50-day simple moving average of C$29.22 and a two-hundred day simple moving average of C$25.24. The company has a market capitalization of C$695.16 million, a price-to-earnings ratio of 15.56, a PEG ratio of 0.65 and a beta of 1.43. The company has a debt-to-equity ratio of 60.84, a quick ratio of 0.53 and a current ratio of 0.97.

Chorus Aviation (TSE:CHR - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported C$0.83 earnings per share (EPS) for the quarter. Chorus Aviation had a return on equity of 9.32% and a net margin of 3.65%. The business had revenue of C$349.42 million for the quarter. As a group, equities analysts predict that Chorus Aviation Inc. will post 0.30 EPS for the current year.

Chorus Aviation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 30th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 15th. Chorus Aviation's dividend payout ratio is currently 19.19%.

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.

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