Chorus Aviation Secures Regulatory Approval for Potential Extension of Share Buyback Offer

Chorus Aviation ( (TSE:CHR) ) has shared an announcement.

Chorus Aviation Inc. announced that it has received exemptive relief from the Nova Scotia Securities Commission, allowing it to extend its substantial issuer bid if undersubscribed, without needing to first purchase shares already tendered. This move is part of Chorus’s offer to buy back up to $25 million worth of its Class A and Class B shares through a modified Dutch auction. The decision to extend the offer has not yet been made, but it could impact the company’s financial strategy and shareholder value.

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 overall stock score reflects significant challenges, particularly in financial performance due to declining profitability and increased leverage. Technical analysis indicates limited upward momentum with potential resistance. Valuation metrics are weak with a negative P/E ratio. However, positive corporate events, including strong Q1 results and strategic initiatives like share buybacks, provide some optimism. Improvements in profitability and financial stability are essential 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 that operates several key subsidiaries including Jazz Aviation, Voyageur Aviation, and Cygnet Aviation Academy. These subsidiaries provide a wide range of services across the aviation industry, such as regional air services under the Air Canada Express brand, specialty charter services, aircraft modifications, parts provisioning, in-service support, and pilot training. Chorus Aviation’s operations cover every stage of an aircraft’s lifecycle, from contract flying and aircraft refurbishment to maintenance, disassembly, and leasing.

Average Trading Volume: 49,202

Technical Sentiment Signal: Buy

Current Market Cap: C$535.3M

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