Cargojet Inc. (CJT) To Go Ex-Dividend on September 20th

Cargojet Inc. (TSE:CJT) declared a quarterly dividend on Friday, September 20th, Zacks reports. Shareholders of record on Friday, October 4th will be paid a dividend of 0.35 per share on Friday, October 4th. This represents a $1.40 annualized dividend and a yield of 1.08%. The ex-dividend date is Friday, September 20th. This is a boost from Cargojet’s previous quarterly dividend of $0.32.

Cargojet Stock Down 1.4 %

Cargojet stock opened at C$129.80 on Wednesday. The firm’s fifty day moving average is C$127.50 and its 200 day moving average is C$121.13. Cargojet has a 12-month low of C$76.50 and a 12-month high of C$143.64. The company has a market capitalization of C$2.10 billion, a PE ratio of -135.21 and a beta of 0.91. The company has a quick ratio of 0.79, a current ratio of 0.59 and a debt-to-equity ratio of 99.84.

Cargojet (TSE:CJT) last issued its 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). Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. The firm had revenue of C$230.80 million for the quarter, compared to analyst estimates of C$239.77 million. As a group, sell-side analysts predict that Cargojet will post 5.8949934 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Ajay Kumar Virmani sold 950 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$133.25, for a total transaction of C$126,587.50. Insiders own 2.65% of the company’s stock.

Analyst Upgrades and Downgrades

CJT has been the subject of several recent research reports. ATB Capital boosted their target price on shares of Cargojet from C$160.00 to C$165.00 in a research report on Thursday, August 15th. Royal Bank of Canada increased their price objective on Cargojet from C$182.00 to C$189.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. National Bank Financial raised Cargojet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 13th. TD Securities upped their price target on Cargojet from C$173.00 to C$176.00 in a report on Thursday, August 15th. Finally, Scotiabank cut Cargojet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$159.55.

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.