Cargojet (TSE:CJT) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Cargojet Inc. (TSE:CJT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$86.48 and traded as high as C$88.56. Cargojet shares last traded at C$86.05, with a volume of 62,405 shares.

Wall Street Analysts Forecast Growth

CJT has been the topic of several research reports. Royal Bank Of Canada cut their target price on Cargojet from C$143.00 to C$140.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. TD dropped their price target on Cargojet from C$124.00 to C$118.00 in a research note on Wednesday, July 15th. Scotiabank cut their price objective on Cargojet from C$118.00 to C$115.00 and set an “outperform” rating on the stock in a report on Thursday, April 9th. Canadian Imperial Bank of Commerce raised their price objective on Cargojet from C$116.00 to C$122.00 in a report on Thursday, April 2nd. Finally, National Bank Financial lifted their price objective on Cargojet from C$108.00 to C$109.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$124.17.

Cargojet Trading Down 2.3%

The stock has a market capitalization of C$1.28 billion, a price-to-earnings ratio of 35.12 and a beta of 1.02. The company has a debt-to-equity ratio of 123.57, a quick ratio of 0.79 and a current ratio of 0.91. The firm has a fifty day moving average of C$84.29 and a 200-day moving average of C$86.48.

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

Cargojet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, July 6th were issued a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, June 19th. 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.