Cargojet Inc. (TSE:CJT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Cargojet Inc. (TSE:CJT) have earned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$159.55.

A number of research firms have recently weighed in on CJT. ATB Capital boosted their target price on Cargojet from C$160.00 to C$165.00 in a research report on Thursday, August 15th. Acumen Capital upped their price objective on Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. Royal Bank of Canada upped their price objective on Cargojet from C$182.00 to C$189.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Scotiabank downgraded Cargojet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, National Bankshares upgraded Cargojet from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$132.00 to C$154.00 in a report on Friday, June 14th.

Cargojet Trading Up 1.4 %

CJT stock opened at C$132.85 on Wednesday. The company has a market cap of C$2.15 billion, a P/E ratio of -138.39 and a beta of 0.91. Cargojet has a twelve month low of C$76.50 and a twelve month high of C$143.64. The company has a quick ratio of 0.79, a current ratio of 0.59 and a debt-to-equity ratio of 99.84. The business has a fifty day moving average of C$127.28 and a 200-day moving average of C$121.83.

Cargojet (TSE:CJT) last released its earnings results on Tuesday, August 13th. The company reported C($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of C$1.10 by C($1.15). The firm had revenue of C$230.80 million for the quarter, compared to the consensus estimate of C$239.77 million. Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. As a group, equities research analysts expect that Cargojet will post 5.8949934 EPS for the current year.

Cargojet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, October 4th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.05%. This is a boost from Cargojet’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, September 20th. Cargojet’s payout ratio is presently -145.83%.

Insider Transactions at Cargojet

In other news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of C$140.60, for a total transaction of C$1,057,623.29. 2.65% of the stock is owned by insiders.

Cargojet Company Profile

Cargojet Inc provides time sensitive overnight air cargo services and carriers in Canada. It operates domestic air cargo network services between 16 Canadian cities; and provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis operating between points in Canada, North and South America, and Europe.