Brokerages Set Cargojet Inc. (TSE:CJT) Target Price at C$159.55

Cargojet Inc. (TSE:CJT) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is C$159.91.

A number of research analysts recently commented on CJT shares. Acumen Capital increased their price target on shares of Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. TD Securities raised their price objective on Cargojet from C$173.00 to C$176.00 in a research note on Thursday, August 15th. Royal Bank of Canada boosted their target price on Cargojet from C$182.00 to C$189.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. ATB Capital raised their price target on Cargojet from C$160.00 to C$165.00 in a research report on Thursday, August 15th. Finally, Scotiabank lowered shares of Cargojet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th.

Cargojet Stock Performance

TSE:CJT opened at C$138.62 on Friday. The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79. The company has a market cap of C$2.24 billion, a price-to-earnings ratio of -145.92 and a beta of 0.91. Cargojet has a 1 year low of C$76.50 and a 1 year high of C$143.64. The stock’s 50 day simple moving average is C$130.48 and its two-hundred day simple moving average is C$125.12.

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

Cargojet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, October 4th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, September 20th. This is an increase from Cargojet’s previous quarterly dividend of $0.32. Cargojet’s dividend payout ratio (DPR) 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.