Cormark Has Positive Estimate for Cargojet FY2024 Earnings

Cargojet Inc. (TSE:CJT) – Research analysts at Cormark boosted their FY2024 earnings per share (EPS) estimates for Cargojet in a research report issued to clients and investors on Wednesday, November 6th. Cormark analyst D. Ocampo now anticipates that the company will earn $5.13 per share for the year, up from their prior forecast of $4.54. The consensus estimate for Cargojet’s current full-year earnings is $5.89 per share. Cormark also issued estimates for Cargojet’s Q4 2025 earnings at $2.00 EPS.

Other analysts have also recently issued research reports about the stock. ATB Capital dropped their price objective on shares of Cargojet from C$165.00 to C$155.00 in a research note on Wednesday. Acumen Capital upped their price target on Cargojet from C$175.00 to C$178.00 in a research report on Thursday, August 15th. TD Securities cut their price target on Cargojet from C$176.00 to C$167.00 in a report on Wednesday. Canaccord Genuity Group boosted their price objective on Cargojet from C$160.00 to C$165.00 in a research note on Wednesday. Finally, National Bankshares raised their target price on Cargojet from C$154.00 to C$158.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$159.00.

Cargojet Price Performance

Shares of TSE CJT opened at C$138.00 on Friday. The firm has a 50-day simple moving average of C$133.91 and a 200-day simple moving average of C$127.51. 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$2.23 billion, a price-to-earnings ratio of -145.26 and a beta of 0.91. Cargojet has a 52 week low of C$82.22 and a 52 week high of C$144.97.

Cargojet (TSE:CJT) last posted its quarterly earnings data 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). Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. The firm had revenue of C$230.80 million during the quarter, compared to analyst estimates of C$239.77 million.

Cargojet Increases Dividend

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