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

Shares of Cargojet Inc. (TSE:CJT) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$148.18.

CJT has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price target on Cargojet from C$187.00 to C$184.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. National Bankshares boosted their price target on shares of Cargojet from C$109.00 to C$129.00 and gave the company a “sector perform” rating in a report on Friday, January 5th. Cormark lowered their price objective on shares of Cargojet from C$121.00 to C$120.00 in a research report on Tuesday, February 27th. BMO Capital Markets lifted their target price on Cargojet from C$110.00 to C$115.00 and gave the stock a “market perform” rating in a report on Tuesday, February 27th. Finally, Laurentian upgraded Cargojet from a “hold” rating to a “buy” rating and increased their price target for the stock from C$102.00 to C$150.00 in a report on Tuesday, January 16th.

Cargojet Price Performance

Shares of CJT stock opened at C$115.59 on Friday. The firm’s 50 day moving average price is C$112.28 and its two-hundred day moving average price is C$107.49. The company has a debt-to-equity ratio of 101.87, a quick ratio of 0.79 and a current ratio of 1.49. Cargojet has a 52-week low of C$76.50 and a 52-week high of C$124.94. The stock has a market cap of C$1.95 billion, a PE ratio of 53.02 and a beta of 1.03.

Cargojet (TSE:CJT) last posted its quarterly 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). 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 the consensus estimate of C$250.58 million. As a group, analysts forecast that Cargojet will post 3.6871632 EPS for the current year.

Cargojet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Wednesday, March 20th were issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 1.09%. The ex-dividend date was Tuesday, March 19th. This is a positive change from Cargojet’s previous quarterly dividend of $0.03. Cargojet’s dividend payout ratio is presently 57.80%.

About Cargojet

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.