Scotiabank Has Lowered Expectations for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its target price lowered by Scotiabank from C$170.00 to C$165.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

Several other equities research analysts also recently weighed in on CJT. ATB Capital cut their price objective on Cargojet from C$165.00 to C$155.00 in a report on Wednesday, November 6th. TD Securities cut their target price on shares of Cargojet from C$167.00 to C$165.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. National Bankshares cut their target price on Cargojet from C$158.00 to C$151.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. Canaccord Genuity Group increased their price target on Cargojet from C$160.00 to C$165.00 in a research note on Wednesday, November 6th. Finally, CIBC lifted their price objective on Cargojet from C$172.00 to C$177.00 in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$158.45.

Cargojet Trading Down 3.6 %

Shares of Cargojet stock opened at C$101.34 on Wednesday. The firm has a market capitalization of C$1.62 billion, a PE ratio of 711.21 and a beta of 0.91. The company has a current ratio of 0.56, a quick ratio of 0.79 and a debt-to-equity ratio of 98.69. The firm’s 50 day moving average is C$112.62 and its 200 day moving average is C$122.88. Cargojet has a 1 year low of C$100.01 and a 1 year high of C$144.97.

Cargojet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.38%. Cargojet’s dividend payout ratio (DPR) is presently 982.53%.

Cargojet Company Profile

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.