Cargojet (TSE:CJT) Price Target Raised to C$160.00

Cargojet (TSE:CJT) had its target price hoisted by Canaccord Genuity Group from C$156.00 to C$160.00 in a research note released on Wednesday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Scotiabank cut shares of Cargojet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. TD Securities upped their target price on shares of Cargojet from C$173.00 to C$176.00 in a research report on Thursday, August 15th. Acumen Capital lifted their price target on shares of Cargojet from C$175.00 to C$178.00 in a research report on Thursday, August 15th. ATB Capital upped their price target on Cargojet from C$160.00 to C$165.00 in a report on Thursday, August 15th. Finally, Royal Bank of Canada lifted their price objective on Cargojet from C$182.00 to C$189.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$160.27.

Cargojet Price Performance

Shares of CJT opened at C$134.69 on Wednesday. The firm has a market capitalization of C$2.18 billion, a PE ratio of -141.78 and a beta of 0.91. The stock’s 50 day moving average is C$131.96 and its two-hundred day moving average is C$125.78. Cargojet has a twelve month low of C$76.50 and a twelve month high of C$143.64. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84.

Cargojet (TSE:CJT) last posted its quarterly earnings results on Tuesday, August 13th. The company reported C($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of C$1.10 by C($1.15). The business had revenue of C$230.80 million during the quarter, compared to analysts’ expectations of C$239.77 million. Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. Research analysts anticipate that Cargojet will post 5.890933 earnings per share for the current year.

Cargojet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, October 4th were given a $0.35 dividend. This is an increase from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Friday, September 20th. Cargojet’s dividend payout ratio is currently -147.37%.

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.