Chorus Aviation (TSE:CHR) Upgraded by Scotiabank to Outperform Rating

Scotiabank upgraded shares of Chorus Aviation (TSE:CHR) from a sector perform rating to an outperform rating in a research note released on Tuesday morning,BayStreet.CA reports. Scotiabank currently has C$30.00 target price on the stock, up from their prior target price of C$26.00.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets upped their target price on shares of Chorus Aviation from C$26.25 to C$28.00 in a report on Monday, November 10th. Royal Bank Of Canada set a C$31.00 price target on Chorus Aviation and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. TD Securities upped their price objective on Chorus Aviation from C$30.00 to C$31.00 in a research note on Monday, November 10th. Canadian Imperial Bank of Commerce reduced their target price on Chorus Aviation from C$32.00 to C$31.00 in a research note on Wednesday, January 21st. Finally, National Bank Financial dropped their price target on Chorus Aviation from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$30.14.

Chorus Aviation Trading Up 5.2%

Shares of Chorus Aviation stock opened at C$22.61 on Tuesday. The stock has a market cap of C$529.41 million, a P/E ratio of 7.51, a P/E/G ratio of 0.65 and a beta of 1.46. The company has a quick ratio of 0.53, a current ratio of 1.13 and a debt-to-equity ratio of 118.79. Chorus Aviation has a 12-month low of C$17.62 and a 12-month high of C$24.31. The business’s 50 day moving average is C$21.55 and its 200-day moving average is C$21.66.

Chorus Aviation (TSE:CHR) last issued its earnings results on Thursday, February 12th. The company reported C$0.67 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$320.19 million for the quarter. Equities research analysts predict that Chorus Aviation 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 Monday, December 29th. Stockholders of record on Monday, December 29th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, December 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.4%. Chorus Aviation’s dividend payout ratio (DPR) is 5.32%.

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.