Cargojet Inc. (TSE:CJT) Plans Quarterly Dividend of $0.35

Cargojet Inc. (TSE:CJT) announced a quarterly dividend on Friday, September 20th, Zacks reports. Stockholders of record on Friday, October 4th will be given a dividend of 0.35 per share on Friday, October 4th. This represents a $1.40 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, September 20th. This is a boost from Cargojet’s previous quarterly dividend of $0.32.

Cargojet Stock Performance

Shares of CJT stock opened at C$129.80 on Wednesday. The firm’s 50 day moving average is C$127.50 and its 200 day moving average is C$121.13. The stock has a market capitalization of C$2.10 billion, a P/E ratio of -135.21 and a beta of 0.91. Cargojet has a 12 month low of C$76.50 and a 12 month high of C$143.64. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84.

Cargojet (TSE:CJT) last posted its earnings results on Tuesday, August 13th. The company reported C($0.05) earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of C$239.77 million. On average, sell-side analysts anticipate that Cargojet will post 5.8949934 earnings per share for the current year.

Insider Buying and Selling at Cargojet

In other news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of C$140.60, for a total transaction of C$1,057,623.29. Company insiders own 2.65% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CJT shares. Cormark lifted their target price on Cargojet from C$135.00 to C$140.00 in a report on Thursday, August 15th. CIBC boosted their price objective on shares of Cargojet from C$159.00 to C$172.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Canaccord Genuity Group raised their price target on shares of Cargojet from C$150.00 to C$156.00 in a report on Wednesday, July 24th. Royal Bank of Canada boosted their price target on shares of Cargojet from C$182.00 to C$189.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Finally, Scotiabank downgraded Cargojet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$159.55.

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.