Cargojet (TSE:CJT) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Cargojet Inc. (TSE:CJT) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$85.44 and traded as low as C$81.78. Cargojet shares last traded at C$82.56, with a volume of 69,007 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. BMO Capital Markets decreased their target price on shares of Cargojet from C$94.00 to C$85.00 and set a “market perform” rating for the company in a research report on Wednesday, May 6th. Desjardins boosted their target price 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 research report on Wednesday, May 6th. Canadian Imperial Bank of Commerce upped their price objective on shares of Cargojet from C$116.00 to C$122.00 in a research report on Thursday, April 2nd. Finally, Stifel Nicolaus upped their price objective on shares of Cargojet from C$100.00 to C$120.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$124.58.

Cargojet Stock Performance

The business’s 50-day simple moving average is C$82.29 and its two-hundred day simple moving average is C$85.44. The firm has a market cap of C$1.23 billion, a price-to-earnings ratio of 33.70 and a beta of 0.87. The company has a quick ratio of 0.79, a current ratio of 0.91 and a debt-to-equity ratio of 123.57.

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. The business had revenue of C$254.70 million during the quarter. Cargojet had a net margin of 3.64% and a return on equity of 4.92%. As a group, sell-side analysts expect that Cargojet Inc. will post 5.890933 earnings per share for the current fiscal 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 given a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Cargojet’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, March 20th. Cargojet’s payout ratio is currently 58.57%.

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.