Shares of Cargojet Inc. (TSE:CJT) have been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$250.83.
A number of equities analysts have weighed in on CJT shares. TD Securities upped their price target on Cargojet from C$230.00 to C$235.00 and gave the stock a “buy” rating in a report on Wednesday, August 4th. National Bankshares lowered Cargojet from an “outperform” rating to a “hold” rating and cut their target price for the company from C$228.00 to C$205.00 in a research report on Thursday. Cormark reaffirmed an “outperform” rating and issued a C$275.00 target price on shares of Cargojet in a research report on Wednesday, August 4th. Scotiabank upped their target price on Cargojet from C$225.00 to C$235.00 in a research report on Wednesday, August 4th. Finally, National Bank Financial raised Cargojet to a “sector perform” rating and set a C$205.00 target price on the stock in a research report on Thursday.
In related news, Senior Officer Paul David Rinaldo sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 28th. The stock was sold at an average price of C$206.70, for a total transaction of C$413,400.00. Following the completion of the transaction, the insider now directly owns 2,625 shares in the company, valued at approximately C$542,587.50.
Cargojet (TSE:CJT) last released its quarterly earnings results on Tuesday, August 3rd. The company reported C$0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$1.03 by C($0.09). The business had revenue of C$172.10 million during the quarter, compared to analysts’ expectations of C$160.90 million. As a group, sell-side analysts expect that Cargojet will post 6.2200001 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 5th. Investors of record on Tuesday, October 5th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Friday, September 17th. Cargojet’s dividend payout ratio is currently 44.03%.
Cargojet Inc provides time sensitive overnight air cargo services in Canada. Its air cargo business activities include operation of domestic overnight air cargo services between fourteen cities in North America; and provision of dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis operating between points in Canada, North and South America, and Europe.
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