Canaccord Genuity Group Boosts Cargojet (TSE:CJT) Price Target to C$160.00

Cargojet (TSE:CJT) had its target price upped by Canaccord Genuity Group from C$156.00 to C$160.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently weighed in on CJT. Royal Bank of Canada boosted their target price on Cargojet from C$182.00 to C$189.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Scotiabank cut shares of Cargojet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. ATB Capital lifted their price target on shares of Cargojet from C$160.00 to C$165.00 in a research note on Thursday, August 15th. Cormark upped their price objective on shares of Cargojet from C$135.00 to C$140.00 in a research note on Thursday, August 15th. Finally, TD Securities lifted their target price on Cargojet from C$173.00 to C$176.00 in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$160.27.

Cargojet Trading Down 0.1 %

TSE CJT opened at C$134.69 on Wednesday. Cargojet has a 52 week low of C$76.50 and a 52 week high of C$143.64. The firm has a 50 day moving average of C$131.96 and a two-hundred day moving average of C$125.78. 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 stock has a market capitalization of C$2.18 billion, a PE ratio of -141.78 and a beta of 0.91.

Cargojet (TSE:CJT) last issued its earnings results on Tuesday, August 13th. The company reported C($0.05) EPS for the quarter, missing analysts’ consensus estimates of C$1.10 by C($1.15). Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. The firm had revenue of C$230.80 million for the quarter, compared to analyst estimates of C$239.77 million. As a group, research analysts expect that Cargojet will post 5.890933 EPS for the current fiscal year.

Cargojet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, October 4th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.04%. This is a boost from Cargojet’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, September 20th. Cargojet’s dividend payout ratio (DPR) is presently -147.37%.

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.