Cargojet Inc. (TSE:CJT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cargojet Inc. (TSE:CJT) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is C$124.58.

A number of analysts recently commented on the company. National Bank Financial increased their price objective on Cargojet from C$104.00 to C$108.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Raymond James Financial raised their price target on shares of Cargojet from C$95.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Desjardins boosted their price objective on shares of Cargojet from C$117.00 to C$126.00 in a research report on Thursday, February 26th. TD boosted their target price on shares of Cargojet from C$120.00 to C$124.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on shares of Cargojet from C$116.00 to C$122.00 in a research note on Thursday, April 2nd.

Cargojet Stock Performance

TSE:CJT opened at C$82.90 on Monday. The firm has a 50-day moving average price of C$82.66 and a two-hundred day moving average price of C$84.45. The company has a market capitalization of C$1.24 billion, a P/E ratio of 33.84 and a beta of 0.87. Cargojet has a twelve month low of C$65.60 and a twelve month high of C$113.89. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 123.57.

Cargojet (TSE:CJT) last announced its earnings results on Monday, May 4th. The company reported C$0.60 EPS for the quarter. Cargojet had a return on equity of 4.92% and a net margin of 3.64%.The firm had revenue of C$254.70 million for the quarter. As a group, research analysts expect that Cargojet will post 5.890933 earnings per share for the current fiscal year.

Cargojet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Thursday, April 2nd were issued a $0.385 dividend. The ex-dividend date was Friday, March 20th. This is an increase from Cargojet’s previous quarterly dividend of $0.35. This represents a $1.54 dividend on an annualized basis and a yield of 1.9%. Cargojet’s payout ratio is 58.57%.

About Cargojet

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.