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Chorus Aviation Announces Preliminary Results of Share Buyback

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Chorus Aviation Announces Preliminary Results of Share Buyback

Confident Investing Starts Here:

An announcement from Chorus Aviation ( (TSE:CHR) ) is now available.

Chorus Aviation Inc. announced the preliminary results of its substantial issuer bid, aiming to purchase and cancel up to $25 million of its shares. The company successfully tendered 471,319 shares at $21.00 each, representing approximately 1.78% of its outstanding shares. Following this transaction, Chorus will have 25,992,518 shares remaining. The issuer bid was less than the maximum allowed, so all validly tendered shares will be purchased without proration. The company plans to resume its normal course issuer bid, purchasing shares opportunistically until November 2025.

The most recent analyst rating on (TSE:CHR) stock is a Buy with a C$21.00 price target. To see the full list of analyst forecasts on Chorus Aviation stock, see the TSE:CHR Stock Forecast page.

Spark’s Take on TSE:CHR Stock

According to Spark, TipRanks’ AI Analyst, TSE:CHR is a Neutral.

Chorus Aviation’s stock score is primarily influenced by its resilience in cash flow management and leverage reduction amidst challenging profitability. Technical indicators present a cautious outlook, and valuation remains a concern due to a negative P/E ratio. Corporate events like share buybacks and strong quarterly results provide some optimism, but ongoing improvements in profitability and financial stability are critical for enhancing the stock’s appeal.

To see Spark’s full report on TSE:CHR stock, click here.

More about Chorus Aviation

Chorus Aviation Inc. operates in the aviation industry, primarily focusing on providing regional aviation services. The company is known for its fleet management and aircraft leasing services, catering to a range of clients in the airline sector.

Average Trading Volume: 48,762

Technical Sentiment Signal: Buy

Current Market Cap: C$538.5M

For detailed information about CHR stock, go to TipRanks’ Stock Analysis page.

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