Cargojet Inc. (TSE:CJT – Get Free Report)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$105.80 and traded as high as C$112.65. Cargojet shares last traded at C$111.85, with a volume of 37,970 shares changing hands.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on CJT. Scotiabank increased their price target on shares of Cargojet from C$142.00 to C$145.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Laurentian upgraded shares of Cargojet from a “hold” rating to a “buy” rating and increased their price target for the stock from C$102.00 to C$150.00 in a report on Tuesday, January 16th. TD Securities dropped their price objective on shares of Cargojet from C$170.00 to C$155.00 and set a “buy” rating on the stock in a research note on Tuesday, January 16th. ATB Capital raised their price objective on shares of Cargojet from C$155.00 to C$160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Finally, Royal Bank of Canada dropped their price objective on shares of Cargojet from C$187.00 to C$184.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$148.20.
View Our Latest Stock Report on Cargojet
Cargojet Stock Down 0.1 %
Cargojet (TSE:CJT – Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The company reported C($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.88 by C($1.02). The firm had revenue of C$221.90 million during the quarter, compared to analysts’ expectations of C$250.58 million. Cargojet had a net margin of 4.25% and a return on equity of 4.62%. On average, sell-side analysts predict that Cargojet Inc. will post 3.6871632 EPS for the current fiscal year.
Cargojet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Wednesday, March 20th were issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Tuesday, March 19th. This is a positive change from Cargojet’s previous quarterly dividend of $0.03. Cargojet’s payout ratio is currently 57.80%.
Cargojet Company Profile
Cargojet Inc provides time sensitive overnight air cargo services and carriers in Canada. It operates domestic air cargo network services between 16 Canadian cities; and provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis operating between points in Canada, North and South America, and Europe.
Recommended Stories
- Five stocks we like better than Cargojet
- What is a Bond Market Holiday? How to Invest and Trade
- Here are the Pros and Cons of Using Options Call Debit Spreads
- Are Penny Stocks a Good Fit for Your Portfolio?
- Carmax Returns to the Bargain Basement: Buy the Dip?
- How to Capture the Benefits of Dividend Increases
- Dividend Aristocrat Fastenal Goes on Sale: Buy It While It’s Down
Receive News & Ratings for Cargojet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cargojet and related companies with MarketBeat.com's FREE daily email newsletter.