Cargojet (TSE:CJT) Price Target Cut to C$155.00 by Analysts at ATB Capital

Cargojet (TSE:CJT) had its target price decreased by ATB Capital from C$165.00 to C$155.00 in a report issued on Wednesday morning,BayStreet.CA reports.

Several other analysts have also weighed in on the stock. Cormark lifted their price objective on shares of Cargojet from C$135.00 to C$140.00 in a research note on Thursday, August 15th. Scotiabank lowered shares of Cargojet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. National Bankshares lifted their price objective on shares of Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. TD Securities reduced their price target on shares of Cargojet from C$176.00 to C$167.00 in a research report on Wednesday. Finally, Acumen Capital lifted their price target on shares of Cargojet from C$175.00 to C$178.00 in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$159.00.

Cargojet Stock Up 0.7 %

Cargojet stock opened at C$138.00 on Wednesday. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.79 and a current ratio of 0.59. Cargojet has a 52-week low of C$82.22 and a 52-week high of C$144.97. The firm has a 50 day moving average price of C$133.91 and a two-hundred day moving average price of C$127.39. The firm has a market cap of C$2.23 billion, a price-to-earnings ratio of -145.26 and a beta of 0.91.

Cargojet (TSE:CJT) last released its quarterly earnings data on Tuesday, August 13th. The company reported C($0.05) earnings per share 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 the consensus estimate of C$239.77 million. Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. Equities analysts predict that Cargojet will post 5.890933 EPS for the current year.

Cargojet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, October 4th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.01%. This is an increase from Cargojet’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, September 20th. Cargojet’s payout ratio is currently -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.