Cargojet Inc. (TSE:CJT) Given Average Recommendation of “Buy” by Brokerages

Cargojet Inc. (TSE:CJT) has been given a consensus recommendation of “Buy” by the ten analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$153.27.

A number of research analysts have weighed in on the company. National Bankshares raised Cargojet from a “sector perform” rating to an “outperform” rating and increased their target price for the company from C$132.00 to C$154.00 in a report on Friday. Royal Bank of Canada cut their target price on shares of Cargojet from C$184.00 to C$182.00 and set an “outperform” rating for the company in a research report on Tuesday, May 14th. Scotiabank upgraded shares of Cargojet from a “hold” rating to a “strong-buy” rating in a research report on Friday. TD Securities raised their target price on Cargojet from C$162.00 to C$173.00 in a report on Wednesday, June 12th. Finally, BMO Capital Markets lifted their target price on Cargojet from C$110.00 to C$115.00 and gave the company a “market perform” rating in a research report on Tuesday, February 27th.

Insider Transactions at Cargojet

In other Cargojet news, Senior Officer Pauline Dhillon sold 7,607 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of C$118.50, for a total value of C$901,429.50. Following the sale, the insider now owns 445 shares in the company, valued at approximately C$52,732.50. In other Cargojet news, Senior Officer Pauline Dhillon sold 7,607 shares of Cargojet stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of C$118.50, for a total value of C$901,429.50. Following the sale, the insider now owns 445 shares of the company’s stock, valued at approximately C$52,732.50. Also, Director Arlene Dickinson sold 1,400 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of C$112.00, for a total value of C$156,800.00. Insiders own 2.71% of the company’s stock.

Cargojet Stock Performance

Shares of CJT stock opened at C$127.74 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.96 and a debt-to-equity ratio of 85.77. The company has a 50 day moving average price of C$115.91 and a 200-day moving average price of C$114.81. Cargojet has a 52 week low of C$76.50 and a 52 week high of C$128.45. The firm has a market capitalization of C$2.10 billion, a PE ratio of 54.59 and a beta of 1.00.

Cargojet (TSE:CJT) last posted its earnings results on Monday, April 29th. The company reported C$1.86 EPS for the quarter, topping analysts’ consensus estimates of C$0.71 by C$1.15. The business had revenue of C$231.20 million during the quarter, compared to the consensus estimate of C$233.80 million. Cargojet had a net margin of 4.48% and a return on equity of 4.78%. As a group, equities research analysts expect that Cargojet will post 4.4768237 earnings per share for the current year.

Cargojet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, July 5th will be given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, June 20th. Cargojet’s payout ratio is currently 53.85%.

Cargojet Company Profile

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.