Chorus Aviation (TSE:CHR) Stock Passes Below 50 Day Moving Average – What’s Next?

Chorus Aviation Inc. (TSE:CHR)’s stock price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$3.02 and traded as low as C$2.84. Chorus Aviation shares last traded at C$2.89, with a volume of 284,223 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CHR shares. CIBC lifted their target price on Chorus Aviation from C$3.25 to C$3.80 in a research note on Friday, November 8th. TD Securities cut Chorus Aviation from a “buy” rating to a “hold” rating and set a C$3.50 price objective for the company. in a report on Friday, November 8th. Canaccord Genuity Group raised their target price on shares of Chorus Aviation from C$2.50 to C$3.10 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets boosted their price target on shares of Chorus Aviation from C$3.00 to C$3.75 in a research note on Friday, November 29th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$3.45.

Chorus Aviation Stock Up 2.1 %

The firm has a market cap of C$552.31 million, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 0.65 and a beta of 2.14. The firm’s 50 day moving average is C$3.02 and its two-hundred day moving average is C$2.90. The company has a current ratio of 1.45, a quick ratio of 0.53 and a debt-to-equity ratio of 60.07.

Chorus Aviation (TSE:CHR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$0.05 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.03 by C$0.02. Chorus Aviation had a negative net margin of 6.95% and a positive return on equity of 7.10%. During the same quarter in the previous year, the business earned $0.06 EPS. As a group, research analysts anticipate that Chorus Aviation Inc. will post 0.3 EPS for the current fiscal year.

About Chorus Aviation

Chorus Aviation Inc, through its subsidiaries, provides aviation solutions. It operates through Regional Aviation Services and Regional Aircraft Leasing segments. The Regional Aviation Services segment provides contract flying services, charter services, and specialized contract flying, such as medical, logistical, and humanitarian flights; aircraft leasing; and maintenance, repair and overhaul services, and part sales and technical services, as well as pilot training services.