Cargojet Inc. (TSE:CJT) Receives Average Recommendation of “Moderate Buy” from Analysts

Cargojet Inc. (TSE:CJT) has received a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating 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$159.55.

CJT has been the topic of several research analyst reports. Cormark upped their price objective on Cargojet from C$135.00 to C$140.00 in a research note on Thursday, August 15th. ATB Capital raised their price target on Cargojet from C$160.00 to C$165.00 in a report on Thursday, August 15th. Scotiabank downgraded shares of Cargojet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Acumen Capital increased their price objective on shares of Cargojet from C$175.00 to C$178.00 in a research report on Thursday, August 15th. Finally, TD Securities lifted their target price on shares of Cargojet from C$173.00 to C$176.00 in a report on Thursday, August 15th.

Insider Buying and Selling

In related news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of C$140.60, for a total value of C$1,057,623.29. 2.65% of the stock is currently owned by company insiders.

Cargojet Trading Down 1.3 %

TSE CJT opened at C$131.87 on Wednesday. Cargojet has a 12 month low of C$76.50 and a 12 month high of C$143.64. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84. The stock has a 50 day moving average of C$127.32 and a 200-day moving average of C$121.60. The company has a market cap of C$2.13 billion, a PE ratio of -137.36 and a beta of 0.91.

Cargojet (TSE:CJT) last released its quarterly earnings data on Tuesday, August 13th. The company reported C($0.05) earnings per share for the quarter, missing the consensus estimate of C$1.10 by C($1.15). Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. The firm had revenue of C$230.80 million for the quarter, compared to analyst estimates of C$239.77 million. On average, equities research analysts anticipate that Cargojet will post 5.8949934 EPS for the current fiscal year.

Cargojet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, October 4th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from Cargojet’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, September 20th. Cargojet’s payout ratio is presently -145.83%.

About Cargojet

Cargojet Inc provides time sensitive overnight air cargo services and carriers in Canada. It operates domestic air cargo network services between 16 Canadian cities; and provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis operating between points in Canada, North and South America, and Europe.