Scotiabank Cuts Cargojet (TSE:CJT) Price Target to C$170.00

Cargojet (TSE:CJT) had its price target decreased by Scotiabank from C$174.00 to C$170.00 in a report published on Thursday,BayStreet.CA reports.

Other research analysts have also recently issued research reports about the stock. 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 report on Thursday. TD Securities dropped their price target on Cargojet from C$167.00 to C$165.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. CIBC upped their price objective on shares of Cargojet from C$172.00 to C$177.00 in a research report on Wednesday, December 4th. Canaccord Genuity Group lifted their target price on shares of Cargojet from C$160.00 to C$165.00 in a research report on Wednesday, November 6th. Finally, ATB Capital lowered their price objective on shares of Cargojet from C$165.00 to C$155.00 in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$160.50.

Cargojet Trading Down 3.8 %

Shares of CJT opened at C$119.08 on Thursday. Cargojet has a fifty-two week low of C$100.01 and a fifty-two week high of C$144.97. The business has a 50-day moving average of C$114.52 and a 200 day moving average of C$124.94. The firm has a market cap of C$1.92 billion, a P/E ratio of -125.35 and a beta of 0.91. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.79 and a current ratio of 0.59.

Cargojet (TSE:CJT) last posted its quarterly earnings results on Monday, November 4th. The company reported C$1.48 EPS for the quarter, topping analysts’ consensus estimates of C$1.14 by C$0.34. Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. During the same period last year, the company earned $0.30 earnings per share. As a group, research analysts forecast that Cargojet will post 5.890933 EPS for the current year.

Cargojet Dividend Announcement

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 $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.18%. The ex-dividend date was Friday, December 20th. Cargojet’s dividend payout ratio is presently -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.