Cargojet (TSE:CJT) Sets New 12-Month Low – Here’s What Happened

Cargojet Inc. (TSE:CJT) shares reached a new 52-week low on Friday . The company traded as low as C$83.20 and last traded at C$83.11, with a volume of 24862 shares changing hands. The stock had previously closed at C$86.05.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CJT shares. CIBC reduced their price objective on shares of Cargojet from C$177.00 to C$163.00 in a research report on Wednesday, February 19th. Cormark reduced their target price on Cargojet from C$140.00 to C$120.00 in a report on Wednesday, February 19th. Royal Bank of Canada lifted their price target on Cargojet from C$189.00 to C$193.00 in a report on Wednesday, February 19th. Canaccord Genuity Group upped their price objective on Cargojet from C$165.00 to C$173.00 in a research note on Wednesday, February 19th. Finally, Scotiabank lowered their target price on Cargojet from C$170.00 to C$165.00 in a research note on Wednesday, February 19th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$162.80.

Cargojet Price Performance

The business’s 50-day moving average price is C$103.04 and its 200 day moving average price is C$116.93. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69. The company has a market capitalization of C$1.32 billion, a P/E ratio of 579.83 and a beta of 0.91.

Cargojet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, April 4th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, March 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.69%. Cargojet’s dividend payout ratio (DPR) is presently 982.53%.

Cargojet Company Profile

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.