Cargojet Inc. (TSE:CJT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Cargojet Inc. (TSE:CJT) has earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is C$124.58.

Several brokerages recently issued reports on CJT. National Bank Financial lifted their price objective on shares of Cargojet from C$104.00 to C$108.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. BMO Capital Markets cut their price objective on shares of Cargojet from C$94.00 to C$85.00 and set a “market perform” rating on the stock in a report on Wednesday, May 6th. TD lifted their price target on shares of Cargojet from C$120.00 to C$124.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Scotiabank cut their price target on shares of Cargojet from C$118.00 to C$115.00 and set an “outperform” rating on the stock in a report on Thursday, April 9th. Finally, Canadian Imperial Bank of Commerce lifted their price target on shares of Cargojet from C$116.00 to C$122.00 in a report on Thursday, April 2nd.

Cargojet Stock Performance

Shares of CJT stock opened at C$82.24 on Friday. The firm has a market cap of C$1.23 billion, a price-to-earnings ratio of 33.57 and a beta of 0.97. The company’s 50 day moving average is C$82.32 and its 200 day moving average is C$85.64. The company has a quick ratio of 0.79, a current ratio of 0.91 and a debt-to-equity ratio of 123.57. Cargojet has a 52-week low of C$65.60 and a 52-week high of C$113.89.

Cargojet (TSE:CJT) last issued its quarterly earnings data on Monday, May 4th. The company reported C$0.60 earnings per share (EPS) for the quarter. The company had revenue of C$254.70 million for the quarter. Cargojet had a net margin of 3.64% and a return on equity of 4.92%. On average, sell-side analysts anticipate that Cargojet will post 5.890933 EPS for the current fiscal year.

Cargojet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, July 6th will be issued a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, June 19th. Cargojet’s payout ratio is currently 58.57%.

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.