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

Shares of Cargojet Inc. (TSE:CJT) have been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$121.00.

CJT has been the subject of several research reports. ATB Cormark Capital Markets upped their price target on shares of Cargojet from C$110.00 to C$120.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. TD set a C$128.00 price objective on shares of Cargojet and gave the stock a “buy” rating in a research report on Thursday. Desjardins lifted their price objective on shares of Cargojet from C$126.00 to C$135.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. National Bank Financial upped their target price on shares of Cargojet from C$109.00 to C$112.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Finally, BMO Capital Markets increased their target price on shares of Cargojet from C$85.00 to C$90.00 in a research note on Wednesday, August 12th.

Cargojet Trading Down 0.8%

CJT opened at C$80.66 on Friday. Cargojet has a one year low of C$65.60 and a one year high of C$100.87. The company has a market cap of C$1.19 billion, a P/E ratio of 26.10 and a beta of 1.03. The company has a debt-to-equity ratio of 119.27, a quick ratio of 0.79 and a current ratio of 0.83. The business’s 50-day simple moving average is C$84.97 and its 200-day simple moving average is C$84.03.

Cargojet (TSE:CJT) last issued its quarterly earnings data on Monday, August 10th. The company reported C$0.47 earnings per share for the quarter. Cargojet had a net margin of 4.49% and a return on equity of 6.30%. The business had revenue of C$275.80 million during the quarter. As a group, equities research analysts expect that Cargojet will post 5.890933 EPS for the current fiscal year.

Cargojet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 5th. Investors of record on Monday, October 5th will be given a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, September 18th. Cargojet’s payout ratio is 47.57%.

About Cargojet

Cargojet is Canada’s leading provider of time-sensitive premium air cargo services to all major cities across North America, providing Dedicated, ACMI and International Charter services and carries over 25,000,000 pounds of cargo weekly. Cargojet operates its network with its own fleet of 41 aircraft.