Scotiabank Lowers Cargojet (TSE:CJT) Price Target to C$139.00

Cargojet (TSE:CJT) had its price target decreased by Scotiabank from C$165.00 to C$139.00 in a report issued on Wednesday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. National Bankshares lowered their price objective on Cargojet from C$158.00 to C$151.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Canaccord Genuity Group lifted their price target on Cargojet from C$165.00 to C$173.00 in a report on Wednesday, February 19th. Royal Bank of Canada increased their price objective on shares of Cargojet from C$189.00 to C$193.00 in a report on Wednesday, February 19th. Cormark lowered their target price on shares of Cargojet from C$140.00 to C$120.00 in a report on Wednesday, February 19th. Finally, CIBC cut their price target on shares of Cargojet from C$177.00 to C$163.00 in a research note on Wednesday, February 19th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$160.20.

Cargojet Stock Performance

Shares of CJT opened at C$82.16 on Wednesday. The company has a market capitalization of C$1.31 billion, a price-to-earnings ratio of 576.60 and a beta of 0.91. The company has a debt-to-equity ratio of 98.69, a quick ratio of 0.79 and a current ratio of 0.56. Cargojet has a 1 year low of C$79.63 and a 1 year high of C$144.97. The company’s 50 day simple moving average is C$100.54 and its 200 day simple moving average is C$116.08.

Cargojet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, April 4th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, March 20th. This represents a $1.40 dividend on an annualized basis and a yield of 1.70%. Cargojet’s dividend payout ratio (DPR) is 982.53%.

About Cargojet

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.