Cargojet Inc. (TSE:CJT – Get Free Report)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$106.63 and traded as high as C$111.38. Cargojet shares last traded at C$110.86, with a volume of 32,348 shares changing hands.
Analyst Ratings Changes
Several research firms have issued reports on CJT. Cormark lowered their price objective on shares of Cargojet from C$121.00 to C$120.00 in a research report on Tuesday, February 27th. National Bankshares boosted their price objective on shares of Cargojet from C$109.00 to C$129.00 and gave the stock a “sector perform” rating in a research note on Friday, January 5th. Royal Bank of Canada reduced their price objective on shares of Cargojet from C$187.00 to C$184.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. Laurentian upgraded shares of Cargojet from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$102.00 to C$150.00 in a research note on Tuesday, January 16th. Finally, Acumen Capital boosted their price objective on shares of Cargojet from C$160.00 to C$165.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Cargojet presently has an average rating of “Moderate Buy” and an average target price of C$148.20.
Read Our Latest Research Report on CJT
Cargojet Price Performance
Cargojet (TSE:CJT – Get Free Report) last released its quarterly earnings data on Monday, February 26th. The company reported C($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.88 by C($1.02). The business had revenue of C$221.90 million during the quarter, compared to analyst estimates of C$250.58 million. Cargojet had a return on equity of 4.62% and a net margin of 4.25%. Equities research analysts forecast that Cargojet Inc. will post 3.6871632 EPS for the current fiscal year.
Cargojet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Wednesday, March 20th were issued a dividend of $0.315 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This is an increase from Cargojet’s previous quarterly dividend of $0.03. This represents a $1.26 dividend on an annualized basis and a yield of 1.14%. Cargojet’s dividend payout ratio is 57.80%.
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.
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