Cargojet (TSE:CJT) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Cargojet Inc. (TSE:CJT)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$86.48 and traded as low as C$78.27. Cargojet shares last traded at C$78.62, with a volume of 50,162 shares.

Analyst Ratings Changes

Several brokerages recently weighed in on CJT. BMO Capital Markets increased their price objective on shares of Cargojet from C$90.00 to C$94.00 and gave the company a “market perform” rating in a report on Thursday, February 26th. Raymond James Financial upped their target price on shares of Cargojet from C$95.00 to C$120.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Stifel Nicolaus increased their price target on Cargojet from C$100.00 to C$120.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Royal Bank Of Canada decreased their price objective on Cargojet from C$151.00 to C$143.00 and set an “outperform” rating for the company in a research note on Monday, December 22nd. Finally, Desjardins upped their price objective on Cargojet from C$117.00 to C$126.00 in a report on Thursday, February 26th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$125.45.

Cargojet Stock Performance

The company has a quick ratio of 0.79, a current ratio of 1.23 and a debt-to-equity ratio of 155.48. The stock has a market cap of C$1.21 billion, a price-to-earnings ratio of 15.49 and a beta of 0.70. The stock’s fifty day moving average is C$90.82 and its 200-day moving average is C$86.32.

Cargojet (TSE:CJT) last posted its earnings results on Tuesday, February 24th. The company reported C$1.47 earnings per share for the quarter. The company had revenue of C$284.70 million for the quarter. Cargojet had a net margin of 8.08% and a return on equity of 10.73%. On average, analysts forecast that Cargojet Inc. will post 5.890933 EPS for the current year.

Cargojet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Thursday, April 2nd will be paid a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, March 20th. This is a boost from Cargojet’s previous quarterly dividend of $0.35. Cargojet’s dividend payout ratio (DPR) is 26.72%.

Cargojet Company Profile

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.