Canaccord Genuity Group Raises Cargojet (TSE:CJT) Price Target to C$160.00

Cargojet (TSE:CJT) had its price objective raised by Canaccord Genuity Group from C$156.00 to C$160.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research analysts have also recently weighed in on CJT. National Bankshares boosted their price objective on shares of Cargojet from C$154.00 to C$158.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Scotiabank cut shares of Cargojet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. ATB Capital boosted their price target on shares of Cargojet from C$160.00 to C$165.00 in a report on Thursday, August 15th. Acumen Capital boosted their price target on shares of Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. Finally, TD Securities upped their target price on shares of Cargojet from C$173.00 to C$176.00 in a research note on Thursday, August 15th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$160.27.

Cargojet Stock Performance

CJT stock opened at C$134.33 on Wednesday. The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79. The company has a 50 day moving average price of C$131.47 and a 200 day moving average price of C$125.51. Cargojet has a fifty-two week low of C$76.50 and a fifty-two week high of C$143.64. The stock has a market capitalization of C$2.17 billion, a PE ratio of -141.40 and a beta of 0.91.

Cargojet (TSE:CJT) last posted its quarterly earnings data on Tuesday, August 13th. The company reported C($0.05) earnings per share for the quarter, missing the consensus estimate of C$1.10 by C($1.15). Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. The company had revenue of C$230.80 million during the quarter, compared to the consensus estimate of C$239.77 million. Analysts forecast that Cargojet will post 5.890933 EPS for the current year.

Cargojet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, October 4th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.04%. This is an increase from Cargojet’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, September 20th. Cargojet’s dividend payout ratio is currently -147.37%.

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.