Cargojet (TSE:CJT) Given New C$165.00 Price Target at Canaccord Genuity Group

Cargojet (TSE:CJT) had its price target raised by Canaccord Genuity Group from C$160.00 to C$165.00 in a research report sent to investors on Wednesday,BayStreet.CA reports.

Several other brokerages have also recently issued reports on CJT. National Bankshares increased their price objective on Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Cormark lifted their price objective on Cargojet from C$135.00 to C$140.00 in a research note on Thursday, August 15th. ATB Capital boosted their price objective on Cargojet from C$160.00 to C$165.00 in a research report on Thursday, August 15th. TD Securities reduced their target price on shares of Cargojet from C$176.00 to C$167.00 in a report on Wednesday. Finally, Scotiabank cut shares of Cargojet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$159.00.

Cargojet Stock Up 0.7 %

Shares of CJT opened at C$138.00 on Wednesday. The company’s 50-day simple moving average is C$133.91 and its 200-day simple moving average is C$127.51. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.79 and a current ratio of 0.59. Cargojet has a 1 year low of C$82.22 and a 1 year high of C$144.97. The stock has a market capitalization of C$2.23 billion, a PE ratio of -145.26 and a beta of 0.91.

Cargojet (TSE:CJT) last released its earnings results on Tuesday, August 13th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of C$230.80 million for the quarter, compared to analyst estimates of C$239.77 million. Analysts forecast that Cargojet 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 Friday, October 4th. Shareholders of record on Friday, October 4th were issued a dividend of $0.35 per share. This is a positive change from Cargojet’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.40 annualized dividend and a dividend yield of 1.01%. Cargojet’s dividend payout ratio (DPR) is presently -147.37%.

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.