Cargojet (TSE:CJT) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Cargojet Inc. (TSE:CJT) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$89.68 and traded as high as C$94.75. Cargojet shares last traded at C$92.96, with a volume of 163,985 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CJT. Raymond James Financial raised their price target on shares of Cargojet from C$95.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. TD Securities decreased their target price on shares of Cargojet from C$160.00 to C$120.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. National Bankshares upped their price target on Cargojet from C$95.00 to C$108.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Royal Bank Of Canada cut their price target on Cargojet from C$151.00 to C$143.00 and set an “outperform” rating for the company in a report on Monday, December 22nd. Finally, Desjardins boosted their price objective on Cargojet from C$117.00 to C$118.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$127.62.

Cargojet Trading Down 1.8%

The stock has a market cap of C$1.40 billion, a PE ratio of 11.81 and a beta of 0.79. The company’s 50-day moving average price is C$85.05 and its 200 day moving average price is C$89.68. The company has a debt-to-equity ratio of 98.69, a quick ratio of 0.79 and a current ratio of 0.56.

Cargojet (TSE:CJT) last issued its quarterly earnings data on Wednesday, November 5th. The company reported C$0.32 earnings per share for the quarter. Cargojet had a return on equity of 0.31% and a net margin of 0.25%.The company had revenue of C$219.90 million during the quarter. On average, sell-side analysts forecast that Cargojet Inc. will post 5.890933 EPS for the current fiscal year.

Cargojet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, January 5th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was 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.