Chorus Aviation (TSE:CHR) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Chorus Aviation Inc. (TSE:CHR)’s share price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$22.33 and traded as low as C$21.61. Chorus Aviation shares last traded at C$21.82, with a volume of 31,647 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. TD Securities lifted their target price on Chorus Aviation from C$30.00 to C$31.00 in a research report on Monday, November 10th. CIBC decreased their price objective on shares of Chorus Aviation from C$33.00 to C$32.00 in a report on Monday, November 10th. Scotiabank boosted their price objective on shares of Chorus Aviation from C$23.50 to C$24.00 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets raised their target price on shares of Chorus Aviation from C$26.25 to C$28.00 in a research report on Monday, November 10th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$28.40.

Chorus Aviation Trading Down 1.4%

The company has a debt-to-equity ratio of 118.79, a quick ratio of 0.53 and a current ratio of 1.13. The company has a market capitalization of C$510.92 million, a P/E ratio of -18.03, a PEG ratio of 0.65 and a beta of 1.56. The company’s fifty day simple moving average is C$22.33 and its 200-day simple moving average is C$21.50.

Chorus Aviation (TSE:CHR) last announced its quarterly earnings results on Thursday, November 6th. The company reported C$0.41 earnings per share for the quarter. The firm had revenue of C$323.57 million during the quarter. Chorus Aviation had a negative net margin of 7.57% and a negative return on equity of 11.70%. Research analysts predict that Chorus Aviation Inc. will post 0.3 earnings per share for the current year.

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.