Cargojet Inc. (TSE:CJT) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Cargojet Inc. (TSE:CJT) have been given an average recommendation of “Buy” by the ten research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$155.36.

CJT has been the topic of a number of research reports. Royal Bank of Canada dropped their price target on Cargojet from C$184.00 to C$182.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 14th. TD Securities increased their price objective on Cargojet from C$162.00 to C$173.00 in a research report on Wednesday, June 12th. Acumen Capital increased their price objective on Cargojet from C$165.00 to C$175.00 and gave the stock a “buy” rating in a research report on Wednesday. National Bankshares raised Cargojet from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$132.00 to C$154.00 in a research report on Friday, June 14th. Finally, National Bank Financial raised Cargojet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 13th.

Cargojet Price Performance

Shares of TSE CJT opened at C$139.07 on Friday. The stock’s 50-day moving average is C$122.42 and its two-hundred day moving average is C$117.68. The company has a debt-to-equity ratio of 85.77, a current ratio of 0.96 and a quick ratio of 0.79. Cargojet has a 1-year low of C$76.50 and a 1-year high of C$143.64. The company has a market cap of C$2.29 billion, a price-to-earnings ratio of 59.43 and a beta of 1.00.

Cargojet (TSE:CJT) last issued its quarterly earnings results on Monday, April 29th. The company reported C$1.86 earnings per share for the quarter, topping the consensus estimate of C$0.71 by C$1.15. Cargojet had a return on equity of 4.78% and a net margin of 4.48%. The company had revenue of C$231.20 million for the quarter, compared to the consensus estimate of C$233.80 million. Analysts forecast that Cargojet will post 4.4768237 EPS for the current fiscal year.

Cargojet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, July 5th will be issued a $0.315 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $1.26 annualized dividend and a dividend yield of 0.91%. Cargojet’s dividend payout ratio is currently 53.85%.

Insider Activity

In other news, Senior Officer Pauline Dhillon sold 7,607 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of C$118.50, for a total value of C$901,429.50. Following the completion of the sale, the insider now directly owns 445 shares of the company’s stock, valued at approximately C$52,732.50. In related news, Director Arlene Dickinson sold 1,400 shares of Cargojet stock in a transaction on Friday, June 7th. The stock was sold at an average price of C$112.00, for a total transaction of C$156,800.00. Also, Senior Officer Pauline Dhillon sold 7,607 shares of Cargojet stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of C$118.50, for a total value of C$901,429.50. Following the transaction, the insider now directly owns 445 shares of the company’s stock, valued at C$52,732.50. Insiders sold 18,979 shares of company stock valued at $2,442,315 in the last three months. 2.71% of the stock is currently owned by company insiders.

Cargojet Company Profile

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.