Cargojet Inc. (TSE:CJT) Declares Quarterly Dividend of $0.35

Cargojet Inc. (TSE:CJT) declared a quarterly dividend on Friday, September 20th, Zacks reports. Investors of record on Friday, October 4th will be given a dividend of 0.35 per share on Friday, October 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Friday, September 20th. This is an increase from Cargojet’s previous quarterly dividend of $0.32.

Cargojet Stock Performance

CJT stock opened at C$130.13 on Thursday. Cargojet has a twelve month low of C$76.50 and a twelve month high of C$143.64. The firm has a market cap of C$2.10 billion, a price-to-earnings ratio of -135.55 and a beta of 0.91. The business’s fifty day simple moving average is C$127.39 and its two-hundred day simple moving average is C$121.23. 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 posted its quarterly earnings results on Tuesday, August 13th. The company reported C($0.05) EPS for the quarter, missing the consensus estimate of C$1.10 by C($1.15). The company had revenue of C$230.80 million during the quarter, compared to analysts’ expectations of C$239.77 million. Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. Analysts predict that Cargojet will post 5.8949934 earnings per share for the current year.

Insider Buying and Selling at Cargojet

In related 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 value of C$1,057,623.29. 2.65% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on CJT shares. Cormark lifted their price target on shares of Cargojet from C$135.00 to C$140.00 in a research note on Thursday, August 15th. Acumen Capital increased their price target on Cargojet from C$175.00 to C$178.00 in a research report on Thursday, August 15th. Scotiabank lowered Cargojet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. National Bank Financial raised shares of Cargojet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 13th. Finally, Canaccord Genuity Group lifted their price objective on shares of Cargojet from C$150.00 to C$156.00 in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cargojet presently has a consensus rating of “Moderate Buy” and an average price target of C$159.55.

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.