Cargojet Inc. (TSE:CJT) Receives C$254.67 Average PT from Brokerages

Cargojet Inc. (TSE:CJT) has earned an average rating of “Buy” from the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$250.83.

Several analysts have commented on CJT shares. Royal Bank of Canada restated an “outperform” rating and issued a C$300.00 price target on shares of Cargojet in a report on Monday, September 27th. Canaccord Genuity lifted their price target on Cargojet from C$220.00 to C$230.00 and gave the company a “na” rating in a report on Tuesday, July 13th. National Bank Financial upgraded Cargojet to a “sector perform” rating and set a C$205.00 target price for the company in a report on Thursday. BMO Capital Markets decreased their target price on Cargojet from C$245.00 to C$225.00 and set an “outperform” rating for the company in a report on Wednesday, August 4th. Finally, National Bankshares cut Cargojet from an “outperform” rating to a “hold” rating and decreased their target price for the stock from C$228.00 to C$205.00 in a report on Thursday.

In other Cargojet news, Senior Officer Paul David Rinaldo sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 28th. The stock was sold at an average price of C$206.70, for a total value of C$413,400.00. Following the completion of the transaction, the insider now owns 2,625 shares in the company, valued at approximately C$542,587.50.

CJT traded down C$4.83 during midday trading on Friday, hitting C$192.68. The company’s stock had a trading volume of 49,644 shares, compared to its average volume of 92,299. The company has a current ratio of 2.05, a quick ratio of 1.70 and a debt-to-equity ratio of 71.32. The firm has a market cap of C$3.34 billion and a P/E ratio of 86.65. The firm has a 50-day moving average price of C$197.88 and a two-hundred day moving average price of C$185.85. Cargojet has a 52-week low of C$159.80 and a 52-week high of C$250.01.

Cargojet (TSE:CJT) last posted its quarterly earnings results on Tuesday, August 3rd. The company reported C$0.94 EPS for the quarter, missing the consensus estimate of C$1.03 by C($0.09). The business had revenue of C$172.10 million during the quarter, compared to the consensus estimate of C$160.90 million. On average, equities analysts expect that Cargojet will post 6.2200001 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 5th. Shareholders of record on Tuesday, October 5th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, September 17th. Cargojet’s dividend payout ratio is presently 44.03%.

Cargojet Company Profile

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.

Further Reading: Cash Asset Ratio

Analyst Recommendations for Cargojet (TSE:CJT)

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