National Bank Financial Expects Lower Earnings for Cargojet

Cargojet Inc. (TSE:CJT) – Investment analysts at National Bank Financial lowered their FY2024 earnings per share (EPS) estimates for shares of Cargojet in a note issued to investors on Monday, January 20th. National Bank Financial analyst C. Doerksen now expects that the company will earn $4.70 per share for the year, down from their prior estimate of $4.94. The consensus estimate for Cargojet’s current full-year earnings is $5.89 per share. National Bank Financial also issued estimates for Cargojet’s FY2025 earnings at $5.54 EPS and FY2026 earnings at $6.40 EPS.

CJT has been the topic of a number of other research reports. ATB Capital lowered their target price on Cargojet from C$165.00 to C$155.00 in a report on Wednesday, November 6th. Canaccord Genuity Group raised their price objective on shares of Cargojet from C$160.00 to C$165.00 in a research note on Wednesday, November 6th. CIBC upped their target price on shares of Cargojet from C$172.00 to C$177.00 in a research note on Wednesday, December 4th. National Bankshares decreased their price target on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, TD Securities dropped their price objective on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$160.50.

Cargojet Trading Up 1.4 %

Shares of TSE:CJT opened at C$123.10 on Thursday. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.79 and a current ratio of 0.59. The stock’s 50-day moving average is C$114.89 and its 200-day moving average is C$125.64. The company has a market cap of C$1.99 billion, a P/E ratio of -129.58 and a beta of 0.91. Cargojet has a 52-week low of C$100.01 and a 52-week high of C$144.97.

Cargojet (TSE:CJT) last announced its earnings results on Monday, November 4th. The company reported C$1.48 EPS for the quarter, topping the consensus estimate of C$1.14 by C$0.34. Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. During the same period in the prior year, the firm posted $0.30 EPS.

Cargojet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, January 3rd were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Friday, December 20th. Cargojet’s dividend payout ratio is -147.37%.

About Cargojet

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.