Cargojet (TSE:CJT) Shares Pass Below 200 Day Moving Average – Time to Sell?

Cargojet Inc. (TSE:CJT) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$86.48 and traded as low as C$78.27. Cargojet shares last traded at C$78.62, with a volume of 50,162 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CJT shares. Scotiabank raised their price objective on Cargojet from C$115.00 to C$118.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Canadian Imperial Bank of Commerce increased their price target on Cargojet from C$106.00 to C$116.00 in a report on Thursday, February 26th. Desjardins lifted their price target on shares of Cargojet from C$117.00 to C$126.00 in a research report on Thursday, February 26th. Royal Bank Of Canada reduced their price objective on shares of Cargojet from C$151.00 to C$143.00 and set an “outperform” rating for the company in a research note on Monday, December 22nd. Finally, National Bank Financial upped their price objective on shares of Cargojet from C$95.00 to C$108.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Cargojet currently has an average rating of “Moderate Buy” and a consensus target price of C$125.45.

Cargojet Stock Down 1.7%

The company has a debt-to-equity ratio of 155.48, a current ratio of 1.23 and a quick ratio of 0.79. The firm has a market capitalization of C$1.17 billion, a P/E ratio of 15.00 and a beta of 0.70. The business has a 50 day moving average price of C$91.26 and a 200 day moving average price of C$86.48.

Cargojet (TSE:CJT) last announced its earnings results on Tuesday, February 24th. The company reported C$1.47 earnings per share for the quarter. The firm had revenue of C$284.70 million during the quarter. Cargojet had a return on equity of 10.73% and a net margin of 8.08%. On average, analysts predict that Cargojet Inc. will post 5.890933 earnings per share for the current year.

Cargojet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd will be issued a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Cargojet’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, March 20th. Cargojet’s dividend payout ratio is presently 26.72%.

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.