Cargojet (TSE:CJT) Reaches New 1-Year High at $125.24

Cargojet Inc. (TSE:CJT)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as C$125.24 and last traded at C$124.93, with a volume of 56041 shares trading hands. The stock had previously closed at C$119.76.

Analysts Set New Price Targets

Several research analysts recently issued reports on CJT shares. Royal Bank of Canada cut their target price on shares of Cargojet from C$187.00 to C$184.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. Cormark cut their price objective on shares of Cargojet from C$121.00 to C$120.00 in a research report on Tuesday, February 27th. TD Securities decreased their target price 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. ATB Capital upped their price target on Cargojet from C$155.00 to C$160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Finally, Canaccord Genuity Group raised their price objective on Cargojet from C$145.00 to C$148.00 in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$148.18.

Cargojet Price Performance

The stock has a market capitalization of C$2.11 billion, a P/E ratio of 54.94 and a beta of 1.03. The business has a fifty day simple moving average of C$112.27 and a 200 day simple moving average of C$107.90. The company has a current ratio of 1.49, a quick ratio of 0.79 and a debt-to-equity ratio of 101.87.

Cargojet (TSE:CJT) last announced its earnings results on Monday, February 26th. The company reported C($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.88 by C($1.02). The company had revenue of C$221.90 million for the quarter, compared to analysts’ expectations of C$250.58 million. Cargojet had a net margin of 4.25% and a return on equity of 4.62%. On average, analysts expect that Cargojet Inc. will post 3.6871632 earnings per share for the current year.

Cargojet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders 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 of this dividend was Tuesday, March 19th. This represents a $1.26 annualized dividend and a dividend yield of 1.01%. Cargojet’s dividend payout ratio is presently 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.