Q3 2024 EPS Estimates for Cargojet Inc. (TSE:CJT) Lowered by Atb Cap Markets

Cargojet Inc. (TSE:CJT) – Research analysts at Atb Cap Markets decreased their Q3 2024 earnings per share (EPS) estimates for shares of Cargojet in a note issued to investors on Wednesday, August 14th. Atb Cap Markets analyst C. Murray now anticipates that the company will earn $1.09 per share for the quarter, down from their previous forecast of $1.63. The consensus estimate for Cargojet’s current full-year earnings is $5.08 per share. Atb Cap Markets also issued estimates for Cargojet’s FY2024 earnings at $4.78 EPS, Q1 2025 earnings at $1.18 EPS, Q2 2025 earnings at $1.39 EPS, Q3 2025 earnings at $1.68 EPS and FY2025 earnings at $6.70 EPS.

Several other equities research analysts have also recently issued reports on the stock. National Bankshares upgraded shares of Cargojet from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$132.00 to C$154.00 in a research report on Friday, June 14th. CIBC raised their price target on shares of Cargojet from C$159.00 to C$172.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Canaccord Genuity Group upped their price objective on Cargojet from C$150.00 to C$156.00 in a report on Wednesday, July 24th. Cormark increased their price objective on Cargojet from C$135.00 to C$140.00 in a research report on Thursday, August 15th. Finally, TD Securities lifted their target price on Cargojet from C$173.00 to C$176.00 in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$159.55.

Cargojet Trading Down 0.6 %

Shares of CJT stock opened at C$123.67 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.79 and a debt-to-equity ratio of 85.77. Cargojet has a twelve month low of C$76.50 and a twelve month high of C$143.64. The company’s 50-day moving average price is C$128.89 and its 200-day moving average price is C$119.84. The stock has a market cap of C$2.04 billion, a price-to-earnings ratio of 52.85 and a beta of 0.90.

Cargojet Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, September 20th. This is a boost 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%. Cargojet’s payout ratio is presently 53.85%.

Insider Activity at Cargojet

In other news, Senior Officer Pauline Dhillon sold 7,607 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of C$118.50, for a total transaction of C$901,429.50. Following the sale, the insider now owns 445 shares of the company’s stock, valued at C$52,732.50. In other news, Senior Officer Pauline Dhillon sold 7,607 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of C$118.50, for a total transaction of C$901,429.50. Following the sale, the insider now owns 445 shares of the company’s stock, valued at C$52,732.50. Also, Senior Officer Ajay Kumar Virmani sold 950 shares of Cargojet stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$133.25, for a total value of C$126,587.50. In the last 90 days, insiders have sold 18,979 shares of company stock worth $2,442,315. 2.65% of the stock is currently owned by company insiders.

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.