Shares of Cargojet Inc. (TSE:CJT – Get Free Report) 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.
Read Our Latest Report on Cargojet
Cargojet Stock Up 2.7 %
Cargojet (TSE:CJT – Get Free Report) 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.
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