Cargojet (TSE:CJT) Stock Passes Above 50-Day Moving Average – Should You Sell?

Cargojet Inc. (TSE:CJT) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$82.90 and traded as high as C$87.49. Cargojet shares last traded at C$86.93, with a volume of 99,463 shares.

Wall Street Analyst Weigh In

CJT has been the topic of several research analyst reports. Royal Bank Of Canada dropped their price objective on Cargojet from C$143.00 to C$140.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Scotiabank reduced their target price on Cargojet from C$118.00 to C$115.00 and set an “outperform” rating for the company in a research note on Thursday, April 9th. Canadian Imperial Bank of Commerce increased their target price on Cargojet from C$116.00 to C$122.00 in a research report on Thursday, April 2nd. BMO Capital Markets dropped their price target on shares of Cargojet from C$94.00 to C$85.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 6th. Finally, TD upped their price objective on shares of Cargojet from C$120.00 to C$124.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$124.58.

Cargojet Stock Up 0.4%

The stock has a market capitalization of C$1.30 billion, a price-to-earnings ratio of 35.48 and a beta of 1.02. The company has a quick ratio of 0.79, a current ratio of 0.91 and a debt-to-equity ratio of 123.57. The business’s 50-day moving average is C$82.90 and its two-hundred day moving average is C$86.29.

Cargojet (TSE:CJT) last released its earnings results on Monday, May 4th. The company reported C$0.60 earnings per share for the quarter. The business had revenue of C$254.70 million for the quarter. Cargojet had a net margin of 3.64% and a return on equity of 4.92%. Equities analysts anticipate that Cargojet Inc. will post 5.890933 EPS for the current year.

Cargojet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, July 6th were given a dividend of $0.385 per share. The ex-dividend date was Friday, June 19th. This represents a $1.54 dividend on an annualized basis and a yield of 1.8%. Cargojet’s dividend payout ratio (DPR) is presently 58.57%.

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.