Shares of Cargojet Inc. (TSE:CJT – Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$142.88 and last traded at C$140.48, with a volume of 67214 shares. The stock had previously closed at C$136.09.
Wall Street Analyst Weigh In
Several research firms have commented on CJT. National Bankshares increased their price objective on shares of Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. ATB Capital increased their price objective on shares of Cargojet from C$160.00 to C$165.00 in a report on Thursday, August 15th. Acumen Capital increased their price target on shares of Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. Canaccord Genuity Group increased their price target on shares of Cargojet from C$156.00 to C$160.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada lifted their price objective on shares of Cargojet from C$182.00 to C$189.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$160.27.
Check Out Our Latest Stock Analysis on CJT
Cargojet Stock Performance
Cargojet (TSE:CJT – Get Free Report) 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 net margin of 1.88% and a negative return on equity of 2.13%. The firm had revenue of C$230.80 million during the quarter, compared to analyst estimates of C$239.77 million. As a group, sell-side analysts predict that Cargojet Inc. will post 5.890933 earnings per share for the current year.
Cargojet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, October 4th were given a dividend of $0.35 per share. This is an increase from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, September 20th. Cargojet’s dividend payout ratio (DPR) is currently -147.37%.
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.
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