Chorus Aviation (TSE:CHR) Hits New 52-Week High – Here’s Why

Shares of Chorus Aviation Inc. (TSE:CHR) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$25.28 and last traded at C$24.85, with a volume of 16549 shares traded. The stock had previously closed at C$25.05.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. TD raised their target price on Chorus Aviation from C$31.00 to C$32.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Stifel Nicolaus raised their target price on Chorus Aviation from C$31.00 to C$32.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada raised their target price on Chorus Aviation from C$31.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Thursday, February 19th. National Bank Financial reduced their target price on Chorus Aviation from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Finally, Scotiabank upgraded Chorus Aviation from a “hold” rating to an “outperform” rating and raised their target price for the stock from C$26.00 to C$30.00 in a research note on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$30.88.

Chorus Aviation Price Performance

The stock has a 50 day simple moving average of C$23.42 and a two-hundred day simple moving average of C$22.56. The firm has a market cap of C$571.10 million, a PE ratio of 9.56, a price-to-earnings-growth ratio of 0.65 and a beta of 1.60. The company has a debt-to-equity ratio of 76.81, a quick ratio of 0.53 and a current ratio of 1.38.

Chorus Aviation (TSE:CHR) last released its quarterly earnings data on Thursday, May 7th. The company reported C$0.29 earnings per share for the quarter. The business had revenue of C$325.42 million during the quarter. Chorus Aviation had a return on equity of 12.73% and a net margin of 5.16%. Sell-side analysts expect that Chorus Aviation Inc. will post 0.3 earnings per share for the current year.

Chorus Aviation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, June 15th. Chorus Aviation’s payout ratio is currently 10.38%.

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.