TD Securities Lowers Cargojet (TSE:CJT) Price Target to C$167.00

Cargojet (TSE:CJT) had its price objective reduced by TD Securities from C$176.00 to C$167.00 in a report issued on Wednesday,BayStreet.CA reports.

Several other research firms have also recently weighed in on CJT. Acumen Capital lifted their price target on Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. Cormark raised their target price on shares of Cargojet from C$135.00 to C$140.00 in a report on Thursday, August 15th. National Bankshares boosted their price target on Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. ATB Capital increased their price objective on shares of Cargojet from C$160.00 to C$165.00 in a research note on Thursday, August 15th. Finally, Canaccord Genuity Group lifted their price target on shares of Cargojet from C$156.00 to C$160.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two investment 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$159.00.

Cargojet Price Performance

TSE:CJT opened at C$138.00 on Wednesday. The firm’s fifty day moving average price is C$133.91 and its two-hundred day moving average price is C$127.39. The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79. The company has a market cap of C$2.23 billion, a P/E ratio of -145.26 and a beta of 0.91. Cargojet has a one year low of C$82.22 and a one year high of C$144.97.

Cargojet (TSE:CJT) last announced its quarterly 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). The company had revenue of C$230.80 million during the quarter, compared to analyst estimates 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 expect that Cargojet will post 5.890933 earnings per share for the current year.

Cargojet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, October 4th were given a dividend of $0.35 per share. This is a positive change from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, September 20th. Cargojet’s dividend payout ratio (DPR) is currently -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.