Cargojet Inc. (TSE:CJT) Receives C$159.55 Average Price Target from Analysts

Cargojet Inc. (TSE:CJT) has been given an average rating of “Moderate Buy” by the ten research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$159.55.

A number of equities research analysts recently issued reports on CJT shares. ATB Capital lifted their price target on shares of Cargojet from C$160.00 to C$165.00 in a research note on Thursday, August 15th. CIBC boosted their target price on shares of Cargojet from C$159.00 to C$172.00 and gave the stock an “outperform” rating in a research note on Monday, June 17th. National Bank Financial upgraded shares of Cargojet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 13th. National Bankshares upgraded Cargojet from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$132.00 to C$154.00 in a report on Friday, June 14th. Finally, Royal Bank of Canada increased their target price on Cargojet from C$182.00 to C$189.00 and gave the company an “outperform” rating in a report on Monday, July 8th.

Insiders Place Their Bets

In other news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of Cargojet stock in a transaction on Friday, June 28th. The stock was sold at an average price of C$140.60, for a total transaction of C$1,057,623.29. 2.65% of the stock is currently owned by corporate insiders.

Cargojet Price Performance

TSE:CJT opened at C$131.87 on Wednesday. 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 has a 52 week low of C$76.50 and a 52 week high of C$143.64. The stock’s 50-day moving average price is C$127.32 and its 200-day moving average price is C$121.53. The stock has a market capitalization of C$2.13 billion, a PE ratio of -137.36 and a beta of 0.91.

Cargojet (TSE:CJT) last issued its quarterly earnings data on Tuesday, August 13th. The company reported C($0.05) EPS for the quarter, missing the consensus estimate of C$1.10 by C($1.15). The business had revenue of C$230.80 million during 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%. As a group, equities analysts expect that Cargojet will post 5.8949934 EPS for the current fiscal year.

Cargojet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, October 4th will be given a dividend of $0.35 per share. This is an increase from Cargojet’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.40 dividend on an annualized basis and a yield of 1.06%. Cargojet’s dividend payout ratio (DPR) is presently -145.83%.

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.