Cargojet Inc. (TSE:CJT) Announces $0.29 Quarterly Dividend

Cargojet Inc. (TSE:CJT – Get Rating) declared a quarterly dividend on Wednesday, March 15th, Zacks reports. Stockholders of record on Monday, March 20th will be given a dividend of 0.286 per share on Wednesday, April 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Friday, March 17th.

Cargojet Price Performance

CJT stock opened at C$108.93 on Friday. The business has a 50 day moving average price of C$121.79 and a 200 day moving average price of C$125.00. The company has a quick ratio of 0.79, a current ratio of 0.77 and a debt-to-equity ratio of 85.03. The stock has a market cap of C$1.87 billion, a price-to-earnings ratio of 10.73 and a beta of 0.90. Cargojet has a fifty-two week low of C$104.74 and a fifty-two week high of C$194.19.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CJT. Scotiabank lowered their target price on shares of Cargojet from C$180.00 to C$172.00 in a report on Tuesday, March 7th. Cormark downgraded shares of Cargojet from a “buy” rating to a “market perform” rating and decreased their price objective for the company from C$175.00 to C$120.00 in a research note on Tuesday, March 7th. TD Securities reiterated a “buy” rating and set a C$185.00 target price (down previously from C$195.00) on shares of Cargojet in a research report on Tuesday, March 7th. ATB Capital decreased their target price on Cargojet from C$185.00 to C$150.00 in a research report on Tuesday, March 7th. Finally, BMO Capital Markets lowered their price objective on shares of Cargojet from C$140.00 to C$130.00 in a research report on Tuesday, March 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$165.60.

About Cargojet

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Cargojet Inc provides time sensitive overnight air cargo services in Canada. Its air cargo business activities include operation of domestic air cargo network services between fourteen cities in North America; and provision of dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis operating between points in Canada, North and South America, and Europe.