Atb Cap Markets Research Analysts Raise Earnings Estimates for Cargojet Inc. (TSE:CJT)

Cargojet Inc. (TSE:CJT) – Atb Cap Markets increased their FY2024 earnings estimates for shares of Cargojet in a note issued to investors on Monday, April 29th. Atb Cap Markets analyst C. Murray now forecasts that the company will earn $6.88 per share for the year, up from their prior forecast of $5.86. The consensus estimate for Cargojet’s current full-year earnings is $3.69 per share. Atb Cap Markets also issued estimates for Cargojet’s Q1 2025 earnings at $1.42 EPS and FY2025 earnings at $7.72 EPS.

CJT has been the subject of a number of other research reports. Laurentian upgraded shares of Cargojet from a “hold” rating to a “buy” rating and boosted their price target for the company from C$102.00 to C$150.00 in a research note on Tuesday, January 16th. Acumen Capital upped their target price on shares of Cargojet from C$160.00 to C$165.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Cormark cut their price target on Cargojet from C$121.00 to C$120.00 in a research note on Tuesday, February 27th. TD Securities boosted their price objective on Cargojet from C$157.00 to C$162.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, ATB Capital raised their target price on Cargojet from C$155.00 to C$160.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$148.91.

Cargojet Price Performance

Shares of TSE:CJT opened at C$120.02 on Thursday. The stock’s 50 day moving average is C$112.36 and its 200-day moving average is C$108.51. Cargojet has a twelve month low of C$76.50 and a twelve month high of C$125.44. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 101.87. The firm has a market capitalization of C$2.02 billion, a price-to-earnings ratio of 55.06 and a beta of 1.03.

Cargojet (TSE:CJT) last announced its quarterly earnings results on Monday, February 26th. The company reported C($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.88 by C($1.02). Cargojet had a return on equity of 4.62% and a net margin of 4.25%. The firm had revenue of C$221.90 million during the quarter, compared to the consensus estimate of C$250.58 million.

Cargojet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Wednesday, March 20th were issued a $0.315 dividend. The ex-dividend date of this dividend was Tuesday, March 19th. This is a positive change from Cargojet’s previous quarterly dividend of $0.03. This represents a $1.26 annualized dividend and a dividend yield of 1.05%. Cargojet’s dividend payout ratio is currently 57.80%.

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.