Cargojet (TSE:CJT) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Cargojet Inc. (TSE:CJT)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$90.99 and traded as low as C$84.53. Cargojet shares last traded at C$84.82, with a volume of 97,388 shares changing hands.

Analyst Upgrades and Downgrades

CJT has been the topic of several recent research reports. CIBC dropped their price target on Cargojet from C$142.00 to C$132.00 in a research note on Wednesday, October 8th. Stifel Nicolaus reduced their price objective on shares of Cargojet from C$120.00 to C$100.00 in a research report on Monday, November 10th. Scotiabank lowered their target price on Cargojet from C$140.00 to C$135.00 in a research note on Friday, October 3rd. National Bankshares cut their price objective on shares of Cargojet from C$123.00 to C$120.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Finally, Desjardins upped their price objective on shares of Cargojet from C$117.00 to C$118.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. Based on data from MarketBeat.com, Cargojet presently has an average rating of “Buy” and a consensus price target of C$128.15.

Cargojet Trading Down 0.6%

The company has a market capitalization of C$1.28 billion, a P/E ratio of 10.78 and a beta of 0.88. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69. The firm’s 50-day moving average price is C$78.37 and its 200 day moving average price is C$90.99.

Cargojet (TSE:CJT) last released its earnings results on Wednesday, November 5th. The company reported C$0.32 earnings per share (EPS) for the quarter. The company had revenue of C$219.90 million during the quarter. Cargojet had a return on equity of 0.31% and a net margin of 0.25%. As a group, equities research analysts predict that Cargojet Inc. will post 5.890933 earnings per share for the current year.

Cargojet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, January 5th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, December 19th. Cargojet’s dividend payout ratio (DPR) is presently 17.79%.

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.