Cargojet Inc. (TSE:CJT) Receives C$148.20 Consensus Target Price from Brokerages

Shares of Cargojet Inc. (TSE:CJT) have earned an average rating of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$148.18.

CJT has been the subject of several recent research reports. TD Securities reduced their price objective on Cargojet from C$170.00 to C$155.00 and set a “buy” rating for the company in a research report on Tuesday, January 16th. Canaccord Genuity Group raised their price target on shares of Cargojet from C$145.00 to C$148.00 in a research note on Wednesday. BMO Capital Markets boosted their price objective on shares of Cargojet from C$110.00 to C$115.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 27th. Scotiabank increased their target price on shares of Cargojet from C$142.00 to C$145.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Finally, Laurentian upgraded shares of Cargojet from a “hold” rating to a “buy” rating and lifted their price target for the company from C$102.00 to C$150.00 in a research note on Tuesday, January 16th.

Cargojet Stock Up 2.7 %

Shares of CJT stock opened at C$117.40 on Friday. Cargojet has a 12-month low of C$76.50 and a 12-month high of C$124.94. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 101.87. The firm has a fifty day moving average of C$112.45 and a 200-day moving average of C$107.26. The company has a market capitalization of C$1.98 billion, a price-to-earnings ratio of 53.85 and a beta of 1.03.

Cargojet (TSE:CJT) last announced its earnings results on Monday, February 26th. The company reported C($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.88 by C($1.02). Cargojet had a return on equity of 4.62% and a net margin of 4.25%. The company had revenue of C$221.90 million during the quarter, compared to analyst estimates of C$250.58 million. As a group, equities research analysts predict that Cargojet will post 3.6871632 earnings per share for the current fiscal year.

Cargojet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Wednesday, March 20th were paid a $0.315 dividend. This is a positive change from Cargojet’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, March 19th. This represents a $1.26 annualized dividend and a yield of 1.07%. Cargojet’s dividend payout ratio is currently 57.80%.

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.