Cargojet (TSE:CJT) Price Target Raised to C$112.00

Cargojet (TSE:CJT) had its price objective upped by National Bank Financial from C$109.00 to C$112.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports. National Bank Financial currently has an outperform rating on the stock.

A number of other equities research analysts have also weighed in on CJT. BMO Capital Markets lifted their price objective on shares of Cargojet from C$85.00 to C$90.00 in a report on Wednesday. Acumen Capital upped their target price on shares of Cargojet from C$115.00 to C$120.00 and gave the stock a “buy” rating in a research note on Wednesday. ATB Cormark Capital Markets raised their target price on shares of Cargojet from C$110.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Wednesday. Scotiabank raised their target price on shares of Cargojet from C$120.00 to C$125.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. Finally, TD lifted their price target on shares of Cargojet from C$118.00 to C$127.00 and gave the company a “buy” rating in a research note on Wednesday. Ten analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Cargojet has an average rating of “Moderate Buy” and an average target price of C$120.92.

Cargojet Stock Down 2.6%

TSE:CJT opened at C$89.26 on Wednesday. Cargojet has a twelve month low of C$65.60 and a twelve month high of C$104.60. The company has a market cap of C$1.33 billion, a price-to-earnings ratio of 36.43 and a beta of 1.02. The stock has a fifty day simple moving average of C$85.26 and a 200-day simple moving average of C$86.21. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 119.27.

Cargojet (TSE:CJT) last issued its earnings results on Monday, August 10th. The company reported C$0.47 earnings per share (EPS) for the quarter. The firm had revenue of C$275.80 million during the quarter. Cargojet had a net margin of 4.49% and a return on equity of 6.30%. Analysts anticipate that Cargojet will post 5.890933 EPS for the current year.

Cargojet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, July 6th were given a dividend of $0.385 per share. The ex-dividend date of this dividend was Friday, June 19th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.7%. Cargojet’s dividend payout ratio is presently 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.