Cargojet (TSE:CJT) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Cargojet Inc. (TSE:CJT) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$85.44 and traded as low as C$81.78. Cargojet shares last traded at C$82.56, with a volume of 69,007 shares.

Wall Street Analyst Weigh In

CJT has been the topic of several analyst reports. Royal Bank Of Canada cut their price target on shares of Cargojet from C$143.00 to C$140.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. BMO Capital Markets cut 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 report on Wednesday, May 6th. Stifel Nicolaus lifted their price target on shares of Cargojet from C$100.00 to C$120.00 and gave the stock a “buy” rating 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 report on Thursday, February 26th. Finally, Scotiabank cut their price target on shares of Cargojet from C$118.00 to C$115.00 and set an “outperform” rating on the stock in a report on Thursday, April 9th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Cargojet presently has an average rating of “Moderate Buy” and a consensus target price of C$124.58.

Cargojet Stock Up 0.4%

The company’s fifty day simple moving average is C$82.29 and its 200-day simple moving average is C$85.44. The company has a debt-to-equity ratio of 123.57, a current ratio of 0.91 and a quick ratio of 0.79. The firm has a market capitalization of C$1.23 billion, a PE ratio of 33.70 and a beta of 0.87.

Cargojet (TSE:CJT) last posted its quarterly earnings data on Monday, May 4th. The company reported C$0.60 EPS for the quarter. Cargojet had a net margin of 3.64% and a return on equity of 4.92%. The business had revenue of C$254.70 million during the quarter. On average, analysts forecast that Cargojet Inc. will post 5.890933 EPS for the current year.

Cargojet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd were paid a dividend of $0.385 per share. The ex-dividend date was Friday, March 20th. This is an increase from Cargojet’s previous quarterly dividend of $0.35. This represents a $1.54 annualized dividend and a dividend yield of 1.9%. Cargojet’s payout ratio is presently 58.57%.

Cargojet Company Profile

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.