Cargojet Inc. (TSE:CJT) Receives C$120.92 Consensus Price Target from Brokerages

Shares of Cargojet Inc. (TSE:CJT) have received an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat reports. One investment 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 analysts that have issued ratings on the stock in the last year is C$120.92.

Several research analysts have issued reports on the company. ATB Cormark Capital Markets boosted their target price on Cargojet from C$110.00 to C$120.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Scotiabank increased their price target on Cargojet from C$120.00 to C$125.00 and gave the stock a “sector outperform” rating in a report on Wednesday, August 12th. Acumen Capital raised their price target on Cargojet from C$115.00 to C$120.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. TD boosted their price objective on Cargojet from C$118.00 to C$127.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Desjardins upped their price objective on Cargojet from C$126.00 to C$135.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th.

Cargojet Price Performance

Cargojet stock opened at C$86.42 on Wednesday. The firm has a 50-day moving average price of C$85.82 and a 200-day moving average price of C$85.93. The firm has a market capitalization of C$1.28 billion, a PE ratio of 27.97 and a beta of 1.02. 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 has a 12-month low of C$65.60 and a 12-month high of C$104.49.

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

Cargojet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, July 6th were paid a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, June 19th. Cargojet’s payout ratio is currently 47.57%.

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.