CIBC Cuts Chorus Aviation (TSE:CHR) Price Target to C$31.00

Chorus Aviation (TSE:CHR) had its target price trimmed by CIBC from C$32.00 to C$31.00 in a research note released on Wednesday morning,BayStreet.CA reports.

Several other research firms have also issued reports on CHR. TD Securities upped their target price on Chorus Aviation from C$30.00 to C$31.00 in a report on Monday, November 10th. Royal Bank Of Canada set a C$31.00 price objective on Chorus Aviation and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Finally, BMO Capital Markets raised their target price on shares of Chorus Aviation from C$26.25 to C$28.00 in a research note on Monday, November 10th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Chorus Aviation currently has a consensus rating of “Moderate Buy” and an average price target of C$29.40.

Chorus Aviation Price Performance

TSE CHR opened at C$22.61 on Wednesday. The firm’s 50 day moving average is C$21.64 and its 200-day moving average is C$21.80. 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 capitalization of C$529.41 million, a PE ratio of -18.69, a price-to-earnings-growth ratio of 0.65 and a beta of 1.54. Chorus Aviation has a 12-month low of C$17.62 and a 12-month high of C$24.31.

Chorus Aviation (TSE:CHR) last released its earnings results on Thursday, November 6th. The company reported C$0.60 earnings per share for the quarter. Chorus Aviation had a negative net margin of 7.57% and a negative return on equity of 11.70%. The business had revenue of C$323.57 million during the quarter. Equities research analysts anticipate that Chorus Aviation will post 0.3 earnings per share for the current fiscal year.

Chorus Aviation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 29th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, December 12th. Chorus Aviation’s payout ratio is currently -6.61%.

Chorus Aviation Company Profile

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. Together, Chorus’ subsidiaries provide services that encompass every stage of an aircraft’s lifecycle, including: aircraft acquisition and leasing; aircraft refurbishment, engineering, modification, repurposing and transition; contract flying; aircraft and component maintenance, disassembly, and parts provisioning; and pilot training.