Cargojet Inc. (TSE:CJT) Receives C$159.55 Consensus Target Price from Analysts

Cargojet Inc. (TSE:CJT) has earned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$159.55.

CJT has been the subject of a number of recent research reports. CIBC boosted their target price on shares of Cargojet from C$159.00 to C$172.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Acumen Capital increased their target price on shares of Cargojet from C$175.00 to C$178.00 in a research report on Thursday, August 15th. ATB Capital lifted their price target on shares of Cargojet from C$160.00 to C$165.00 in a report on Thursday, August 15th. National Bankshares upgraded Cargojet from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$132.00 to C$154.00 in a report on Friday, June 14th. Finally, National Bank Financial upgraded Cargojet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 13th.

Cargojet Trading Down 1.0 %

TSE CJT opened at C$131.87 on Wednesday. Cargojet has a one year low of C$76.50 and a one year high of C$143.64. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.79 and a current ratio of 0.59. The company has a market capitalization of C$2.13 billion, a price-to-earnings ratio of -137.36 and a beta of 0.91. The company’s 50-day simple moving average is C$127.32 and its two-hundred day simple moving average is C$121.53.

Cargojet (TSE:CJT) last issued its quarterly earnings data on Tuesday, August 13th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.10 by C($1.15). The business had revenue of C$230.80 million for the quarter, compared to analysts’ expectations 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 forecast that Cargojet will post 5.8949934 EPS for the current fiscal year.

Cargojet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, October 4th will be issued a dividend of $0.35 per share. This is an increase from Cargojet’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.06%. Cargojet’s payout ratio is -145.83%.

Insider Activity at Cargojet

In other news, Senior Officer Ajay Kumar Virmani sold 950 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$133.25, for a total value of C$126,587.50. 2.65% of the stock is owned by insiders.

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.