Cargojet (TSE:CJT) Price Target Increased to C$160.00 by Analysts at Canaccord Genuity Group

Cargojet (TSE:CJT) had its price target boosted by Canaccord Genuity Group from C$156.00 to C$160.00 in a report published on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

CJT has been the subject of several other research reports. National Bankshares lifted their price objective on shares of Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Scotiabank cut Cargojet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Cormark lifted their price target on shares of Cargojet from C$135.00 to C$140.00 in a research report on Thursday, August 15th. Acumen Capital upped their price objective on shares of Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. Finally, Royal Bank of Canada boosted their target price on shares of Cargojet from C$182.00 to C$189.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$160.27.

Cargojet Trading Down 0.1 %

Shares of CJT stock opened at C$134.69 on Wednesday. The stock has a 50-day simple moving average of C$131.96 and a 200 day simple moving average of C$125.85. The stock has a market capitalization of C$2.18 billion, a P/E ratio of -141.78 and a beta of 0.91. Cargojet has a fifty-two week low of C$76.50 and a fifty-two week high of C$143.64. 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 announced its earnings results on Tuesday, August 13th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.10 by C($1.15). The firm had revenue of C$230.80 million for the quarter, compared to analyst estimates of C$239.77 million. Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. On average, sell-side analysts expect that Cargojet will post 5.890933 earnings per share for the current fiscal year.

Cargojet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, October 4th were paid a $0.35 dividend. This is a positive change from Cargojet’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.40 annualized dividend and a dividend yield of 1.04%. Cargojet’s dividend payout ratio is presently -147.37%.

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.