Analysts Offer Predictions for Cargojet Inc.’s Q3 2024 Earnings (TSE:CJT)

Cargojet Inc. (TSE:CJT) – Stock analysts at National Bank Financial issued their Q3 2024 earnings per share (EPS) estimates for shares of Cargojet in a report issued on Wednesday, August 14th. National Bank Financial analyst C. Doerksen forecasts that the company will post earnings per share of $1.05 for the quarter. National Bank Financial has a “Strong-Buy” rating on the stock. The consensus estimate for Cargojet’s current full-year earnings is $5.08 per share. National Bank Financial also issued estimates for Cargojet’s FY2024 earnings at $4.60 EPS and FY2025 earnings at $5.47 EPS.

A number of other research firms have also commented on CJT. Scotiabank lowered Cargojet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. TD Securities lifted their target price on Cargojet from C$173.00 to C$176.00 in a report on Thursday. National Bankshares raised Cargojet from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$132.00 to C$154.00 in a report on Friday, June 14th. ATB Capital lifted their target price on Cargojet from C$160.00 to C$165.00 in a report on Thursday. Finally, Royal Bank of Canada lifted their target price on Cargojet from C$182.00 to C$189.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cargojet currently has a consensus rating of “Moderate Buy” and an average target price of C$159.55.

Cargojet Stock Down 1.1 %

Cargojet stock opened at C$124.44 on Monday. The firm has a market cap of C$2.05 billion, a price-to-earnings ratio of 53.18 and a beta of 0.90. The stock has a fifty day simple moving average of C$128.89 and a two-hundred day simple moving average of C$119.84. Cargojet has a 12 month low of C$76.50 and a 12 month high of C$143.64. The company has a current ratio of 0.96, a quick ratio of 0.79 and a debt-to-equity ratio of 85.77.

Insider Activity at Cargojet

In related 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. In related 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. Also, Director Arlene Dickinson sold 1,400 shares of Cargojet stock in a transaction on Friday, June 7th. The shares were sold at an average price of C$112.00, for a total value of C$156,800.00. Over the last three months, insiders have sold 18,979 shares of company stock worth $2,442,315. Corporate insiders own 2.65% of the company’s stock.

Cargojet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be paid a $0.35 dividend. This is an increase from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Friday, September 20th. Cargojet’s dividend payout ratio (DPR) is 53.85%.

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.