Chorus Aviation Resumes Share Repurchase with New Plan

Chorus Aviation ( (TSE:CHR) ) just unveiled an update.

Chorus Aviation Inc. has initiated an automatic share purchase plan (ASPP) to facilitate the repurchase of its Class A and Class B shares under its normal course issuer bid (NCIB), which had been suspended during a substantial issuer bid. The ASPP allows Chorus to buy shares during trading blackout periods, with the plan reviewed by the Toronto Stock Exchange. This move is expected to optimize the company’s capital structure and potentially enhance shareholder value, although there is no assurance on the number of shares to be acquired.

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. is a holding company with principal operating subsidiaries including Jazz Aviation, the largest regional operator in Canada providing services under the Air Canada Express brand; Voyageur Aviation, offering specialty charter, aircraft modifications, and support services; and Cygnet Aviation Academy, an accredited training academy for pilots. Chorus provides a comprehensive range of services across an aircraft’s lifecycle, including contract flying, maintenance, leasing, and pilot training.

Average Trading Volume: 44,390

Technical Sentiment Signal: Buy

Current Market Cap: C$532.2M

For a thorough assessment of CHR stock, go to TipRanks’ Stock Analysis page.