Shares of Cargojet Inc. (TSE:CJT – Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$126.47 and traded as low as C$110.65. Cargojet shares last traded at C$113.54, with a volume of 82,958 shares trading hands.
Wall Street Analysts Forecast Growth
CJT has been the topic of a number of recent research reports. National Bankshares raised their price objective on Cargojet from C$154.00 to C$158.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. TD Securities cut their target price on Cargojet from C$167.00 to C$165.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. CIBC raised their price target on shares of Cargojet from C$172.00 to C$177.00 in a research note on Wednesday, December 4th. Canaccord Genuity Group upped their price target on shares of Cargojet from C$160.00 to C$165.00 in a report on Wednesday, November 6th. Finally, ATB Capital dropped their price objective on shares of Cargojet from C$165.00 to C$155.00 in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$159.27.
Get Our Latest Stock Analysis on CJT
Cargojet Stock Performance
Cargojet Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, January 3rd were issued a $0.35 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.40 dividend on an annualized basis and a yield of 1.23%. Cargojet’s payout ratio is currently -147.37%.
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.
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