TD Issues Positive Forecast for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its target price upped by TD from C$120.00 to C$124.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently issued reports on the company. National Bank Financial increased their price target on Cargojet from C$104.00 to C$108.00 and gave the stock an “outperform” rating in a research report on Wednesday. Stifel Nicolaus increased their target price on Cargojet from C$100.00 to C$120.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. BMO Capital Markets dropped their price target on shares of Cargojet from C$94.00 to C$85.00 and set a “market perform” rating on the stock in a research note on Wednesday. Raymond James Financial boosted their price target on shares of Cargojet from C$95.00 to C$120.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Finally, Scotiabank reduced their price objective on shares of Cargojet from C$118.00 to C$115.00 and set an “outperform” rating for the company in a research report on Thursday, April 9th. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Cargojet presently has an average rating of “Moderate Buy” and an average price target of C$124.58.

Cargojet Stock Performance

Shares of TSE CJT opened at C$82.10 on Wednesday. The company has a market capitalization of C$1.22 billion, a PE ratio of 15.67 and a beta of 0.87. The company has a debt-to-equity ratio of 123.57, a quick ratio of 0.79 and a current ratio of 0.91. The company’s fifty day moving average price is C$84.32 and its 200 day moving average price is C$84.45. Cargojet has a 1 year low of C$65.60 and a 1 year high of C$113.89.

Cargojet (TSE:CJT) last issued its quarterly earnings data on Monday, May 4th. The company reported C$0.60 earnings per share for the quarter. Cargojet had a net margin of 3.64% and a return on equity of 4.92%. The business had revenue of C$254.70 million during the quarter. On average, research analysts predict that Cargojet will post 5.890933 earnings per share for the current year.

Cargojet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd were paid a dividend of $0.385 per share. This is an increase from Cargojet’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, March 20th. This represents a $1.54 annualized dividend and a yield of 1.9%. Cargojet’s dividend payout ratio (DPR) is presently 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.