Q2 2024 Earnings Forecast for Cargojet Inc. Issued By National Bank Financial (TSE:CJT)

Cargojet Inc. (TSE:CJT) – National Bank Financial issued their Q2 2024 earnings per share estimates for Cargojet in a research note issued on Monday, April 29th. National Bank Financial analyst C. Doerksen expects that the company will post earnings of $0.81 per share for the quarter. The consensus estimate for Cargojet’s current full-year earnings is $3.69 per share.

Other equities analysts have also recently issued reports about the stock. TD Securities boosted their price target on shares of Cargojet from C$157.00 to C$162.00 and gave the company a “buy” rating in a report on Tuesday. National Bankshares lifted their target price on shares of Cargojet from C$129.00 to C$132.00 and gave the company a “sector perform” rating in a research note on Tuesday. Acumen Capital raised their price target on shares of Cargojet from C$160.00 to C$165.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Cormark decreased their price target on Cargojet from C$121.00 to C$120.00 in a research note on Tuesday, February 27th. Finally, ATB Capital boosted 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. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cargojet has a consensus rating of “Moderate Buy” and a consensus price target of C$148.91.

Cargojet Stock Performance

CJT stock opened at C$117.08 on Wednesday. The firm has a 50 day simple moving average of C$112.32 and a 200 day simple moving average of C$108.21. Cargojet has a 52 week low of C$76.50 and a 52 week high of C$125.44. The stock has a market cap of C$1.98 billion, a P/E ratio of 53.71 and a beta of 1.03. The company has a debt-to-equity ratio of 101.87, a quick ratio of 0.79 and a current ratio of 1.49.

Cargojet (TSE:CJT) last announced its quarterly earnings data on Monday, February 26th. The company reported C($0.14) EPS for the quarter, missing analysts’ consensus estimates of C$0.88 by C($1.02). The business had revenue of C$221.90 million for the quarter, compared to analyst estimates of C$250.58 million. Cargojet had a return on equity of 4.62% and a net margin of 4.25%.

Cargojet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Wednesday, March 20th were given a dividend of $0.315 per share. The ex-dividend date was Tuesday, March 19th. This is a boost from Cargojet’s previous quarterly dividend of $0.03. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.08%. Cargojet’s payout ratio is currently 57.80%.

About Cargojet

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.