Cargojet Inc. (TSE:CJT) Receives C$159.55 Consensus Target Price from Brokerages

Shares of Cargojet Inc. (TSE:CJT) have earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$159.91.

CJT has been the topic of several research reports. Acumen Capital raised their target price on Cargojet from C$175.00 to C$178.00 in a research report on Thursday, August 15th. Canaccord Genuity Group boosted their target price on shares of Cargojet from C$150.00 to C$156.00 in a research report on Wednesday, July 24th. National Bankshares upped their target price on shares of Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a report on Thursday. Scotiabank cut shares of Cargojet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, TD Securities upped their price objective on Cargojet from C$173.00 to C$176.00 in a research note on Thursday, August 15th.

Cargojet Stock Down 0.1 %

CJT opened at C$138.62 on Friday. The stock has a market capitalization of C$2.24 billion, a price-to-earnings ratio of -145.92 and a beta of 0.91. The firm has a 50 day moving average price of C$130.48 and a 200-day moving average price of C$125.12. 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.

Cargojet (TSE:CJT) last announced 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 company had revenue of C$230.80 million for the quarter, compared to analysts’ expectations of C$239.77 million. Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. Equities research analysts forecast that Cargojet will post 5.890933 earnings per share for the current year.

Cargojet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, October 4th were paid a $0.35 dividend. This is a positive change from Cargojet’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.01%. Cargojet’s dividend payout ratio is -147.37%.

About Cargojet

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.