Cargojet (TSE:CJT) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of Cargojet Inc. (TSE:CJT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$122.79 and traded as high as C$135.99. Cargojet shares last traded at C$135.91, with a volume of 26,543 shares traded.

Analysts Set New Price Targets

CJT has been the subject of a number of recent analyst reports. National Bankshares upgraded shares of Cargojet from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$132.00 to C$154.00 in a research report on Friday, June 14th. Royal Bank of Canada upped their price target on Cargojet from C$182.00 to C$189.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Cormark increased their price objective on shares of Cargojet from C$135.00 to C$140.00 in a research note on Thursday, August 15th. TD Securities boosted their price target on Cargojet from C$173.00 to C$176.00 in a report on Thursday, August 15th. Finally, Scotiabank cut shares of Cargojet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$159.55.

Cargojet Trading Up 0.3 %

The business’s 50-day moving average price is C$127.75 and its 200 day moving average price is C$122.79. The firm has a market capitalization of C$2.19 billion, a price-to-earnings ratio of -141.57 and a beta of 0.91. The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79.

Cargojet (TSE:CJT) last released its quarterly earnings results on Tuesday, August 13th. The company reported C($0.05) EPS for the quarter, missing the consensus estimate of C$1.10 by C($1.15). The business had revenue of C$230.80 million during the quarter, compared to analyst estimates of C$239.77 million. Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. On average, equities analysts forecast that Cargojet Inc. will post 5.886132 earnings per share for the current fiscal year.

Cargojet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, October 4th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.40 annualized dividend and a dividend yield of 1.03%. This is an increase from Cargojet’s previous quarterly dividend of $0.32. Cargojet’s payout ratio is presently -145.83%.

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.