Cargojet (TSE:CJT) Reaches New 1-Year High – Should You Buy?

Shares of Cargojet Inc. (TSE:CJT) 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.

Cargojet Stock Performance

The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84. The firm has a 50-day moving average of C$132.91 and a 200-day moving average of C$126.35. The stock has a market capitalization of C$2.25 billion, a price-to-earnings ratio of -146.52 and a beta of 0.91.

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 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.