Brokerages Set Cargojet Inc. (TSE:CJT) Price Target at C$159.55

Cargojet Inc. (TSE:CJT) has earned an average rating of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$159.55.

Several analysts recently issued reports on the company. Acumen Capital upped their target price on Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. National Bank Financial upgraded Cargojet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 13th. Scotiabank lowered Cargojet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Royal Bank of Canada upped their price objective on Cargojet from C$182.00 to C$189.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Finally, National Bankshares upgraded Cargojet from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$132.00 to C$154.00 in a research note on Friday, June 14th.

Cargojet Stock Performance

CJT opened at C$132.85 on Wednesday. Cargojet has a 52-week low of C$76.50 and a 52-week high of C$143.64. The firm has a market capitalization of C$2.15 billion, a PE ratio of -138.39 and a beta of 0.91. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.79 and a current ratio of 0.59. The business’s 50-day simple moving average is C$127.28 and its 200 day simple moving average is C$121.83.

Cargojet (TSE:CJT) last released 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 the consensus estimate of C$239.77 million. As a group, sell-side analysts expect that Cargojet will post 5.8949934 earnings per share for the current fiscal year.

Cargojet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, September 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.05%. This is a positive change from Cargojet’s previous quarterly dividend of $0.32. Cargojet’s dividend payout ratio (DPR) is -145.83%.

Insider Transactions at Cargojet

In related news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the stock in a transaction that occurred on 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. 2.65% of the stock is owned by corporate insiders.

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.