Cargojet (TSE:CJT – Free Report) had its target price trimmed by Royal Bank of Canada from C$184.00 to C$182.00 in a report released on Tuesday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.
A number of other research firms have also recently weighed in on CJT. Acumen Capital increased their price objective on shares of Cargojet from C$160.00 to C$165.00 and gave the stock a buy rating in a research report on Tuesday, February 27th. Scotiabank lifted their price objective on Cargojet from C$142.00 to C$145.00 and gave the company an outperform rating in a research note on Monday, January 22nd. Canaccord Genuity Group increased their target price on Cargojet from C$145.00 to C$148.00 in a research note on Wednesday, April 24th. TD Securities raised their target price on Cargojet from C$157.00 to C$162.00 and gave the company a buy rating in a report on Tuesday. Finally, Laurentian upgraded shares of Cargojet from a hold rating to a buy rating and boosted their price target for the stock from C$102.00 to C$150.00 in a research note on Tuesday, January 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Cargojet presently has a consensus rating of Moderate Buy and a consensus target price of C$148.91.
Read Our Latest Stock Analysis on Cargojet
Cargojet Price Performance
Cargojet (TSE:CJT – Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The company reported C($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.88 by C($1.02). Cargojet had a return on equity of 4.62% and a net margin of 4.25%. The business had revenue of C$221.90 million for the quarter, compared to analyst estimates of C$250.58 million. As a group, research analysts anticipate that Cargojet will post 3.6871632 earnings per share for the current year.
Cargojet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Wednesday, March 20th were issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Tuesday, March 19th. This is a boost from Cargojet’s previous quarterly dividend of $0.03. Cargojet’s payout ratio is 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.
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