TD Cuts Cargojet (TSE:CJT) Price Target to C$118.00

Cargojet (TSE:CJT) had its price objective trimmed by TD from C$124.00 to C$118.00 in a report issued on Wednesday,BayStreet.CA reports.

Several other equities analysts have also recently commented on CJT. Scotiabank dropped their target price on shares of Cargojet from C$118.00 to C$115.00 and set an “outperform” rating on the stock in a research report on Thursday, April 9th. Royal Bank Of Canada reduced their target price on Cargojet from C$143.00 to C$140.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Canadian Imperial Bank of Commerce increased their price target on Cargojet from C$116.00 to C$122.00 in a research report on Thursday, April 2nd. National Bank Financial lifted their price target on Cargojet from C$108.00 to C$109.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, BMO Capital Markets dropped their price target on 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. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Cargojet presently has a consensus rating of “Moderate Buy” and an average price target of C$124.17.

Cargojet Price Performance

CJT opened at C$86.02 on Wednesday. Cargojet has a 1 year low of C$65.60 and a 1 year high of C$105.60. The company has a debt-to-equity ratio of 123.57, a current ratio of 0.91 and a quick ratio of 0.79. The company has a market capitalization of C$1.28 billion, a price-to-earnings ratio of 35.11 and a beta of 1.02. The firm’s fifty day moving average price is C$83.92 and its two-hundred day moving average price is C$86.40.

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

Cargojet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, July 6th were paid a $0.385 dividend. The ex-dividend date was Friday, June 19th. This represents a $1.54 annualized dividend and a dividend yield of 1.8%. Cargojet’s payout ratio is presently 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.