Chorus Aviation (TSE:CHR) Stock Price Passes Below 50 Day Moving Average – Should You Sell?

Chorus Aviation Inc. (TSE:CHR)’s share price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$24.40 and traded as low as C$23.76. Chorus Aviation shares last traded at C$24.24, with a volume of 22,150 shares traded.

Wall Street Analysts Forecast Growth

Separately, TD increased their price objective on Chorus Aviation from C$31.00 to C$32.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$30.88.

Chorus Aviation Stock Performance

The company’s 50-day moving average price is C$24.40 and its 200 day moving average price is C$23.29. The stock has a market capitalization of C$557.08 million, a PE ratio of 9.32, a PEG ratio of 0.65 and a beta of 1.78. 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 announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.29 earnings per share (EPS) for the quarter. Chorus Aviation had a net margin of 5.16% and a return on equity of 12.73%. The company had revenue of C$325.42 million for the quarter. On average, equities research analysts expect that Chorus Aviation Inc. will post 0.3 earnings per share for the current fiscal year.

Chorus Aviation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.11 per share. The ex-dividend date was Monday, June 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.8%. Chorus Aviation’s dividend payout ratio is 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.