Cargojet Inc. (TSE:CJT) Receives Average Rating of “Buy” from Brokerages

Shares of Cargojet Inc. (TSE:CJT) have been given an average rating of “Buy” by the nine ratings firms that are covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is C$124.18.

A number of brokerages have recently issued reports on CJT. National Bank Financial boosted their target price on shares of Cargojet from C$95.00 to C$108.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Raymond James Financial raised their target price on Cargojet from C$95.00 to C$120.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. TD Securities decreased their price target on Cargojet from C$160.00 to C$120.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Desjardins increased their price target on Cargojet from C$117.00 to C$118.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, Stifel Nicolaus dropped their price objective on Cargojet from C$120.00 to C$100.00 in a research note on Monday, November 10th.

Cargojet Price Performance

Shares of TSE:CJT opened at C$91.19 on Wednesday. Cargojet has a twelve month low of C$65.60 and a twelve month high of C$113.89. The stock’s 50 day moving average is C$90.76 and its 200-day moving average is C$88.89. 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 has a market capitalization of C$1.38 billion, a price-to-earnings ratio of 11.59 and a beta of 0.82.

Cargojet (TSE:CJT) last posted its quarterly earnings results on Tuesday, February 24th. The company reported C$1.47 earnings per share (EPS) for the quarter. Cargojet had a net margin of 0.25% and a return on equity of 0.31%. The business had revenue of C$284.70 million during the quarter. Sell-side analysts forecast that Cargojet will post 5.890933 EPS for the current fiscal year.

Cargojet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, January 5th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, December 19th. This represents a $1.40 annualized dividend and a yield of 1.5%. Cargojet’s payout ratio is 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.