Cargojet (TSE:CJT) Reaches New 12-Month Low – Here’s Why

Cargojet Inc. (TSE:CJT) shares hit a new 52-week low on Friday . The stock traded as low as C$83.20 and last traded at C$83.11, with a volume of 24862 shares. The stock had previously closed at C$86.05.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CJT shares. CIBC lowered their price objective on Cargojet from C$177.00 to C$163.00 in a research note on Wednesday, February 19th. National Bankshares dropped their price target on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating on the stock in a research note on Thursday, January 30th. Cormark reduced their price objective on shares of Cargojet from C$140.00 to C$120.00 in a research note on Wednesday, February 19th. Canaccord Genuity Group increased their target price on Cargojet from C$165.00 to C$173.00 in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada lifted their price target on Cargojet from C$189.00 to C$193.00 in a research report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cargojet has a consensus rating of “Buy” and a consensus target price of C$162.80.

Cargojet Price Performance

The business’s fifty day moving average price is C$103.84 and its 200-day moving average price is C$117.29. The company has a market capitalization of C$1.32 billion, a P/E ratio of 576.96 and a beta of 0.91. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69.

Cargojet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, April 4th will be given a $0.35 dividend. The ex-dividend date is Thursday, March 20th. This represents a $1.40 dividend on an annualized basis and a yield of 1.70%. Cargojet’s payout ratio is 982.53%.

Cargojet Company Profile

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.