Cargojet Inc. (TSE:CJT) Declares Dividend Increase – $0.35 Per Share

Cargojet Inc. (TSE:CJT) announced a quarterly dividend on Friday, September 20th, Zacks reports. Shareholders of record on Friday, October 4th will be paid a dividend of 0.35 per share on Friday, October 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Friday, September 20th. This is a positive change from Cargojet’s previous quarterly dividend of $0.32.

Cargojet Trading Up 0.3 %

Cargojet stock opened at C$130.13 on Thursday. Cargojet has a 52-week low of C$76.50 and a 52-week high of C$143.64. The company has a market cap of C$2.10 billion, a P/E ratio of -135.55 and a beta of 0.91. The company has a quick ratio of 0.79, a current ratio of 0.59 and a debt-to-equity ratio of 99.84. The business has a 50-day simple moving average of C$127.39 and a two-hundred day simple moving average of C$121.23.

Cargojet (TSE:CJT) last announced its earnings results on Tuesday, August 13th. The company reported C($0.05) EPS for the quarter, missing analysts’ consensus estimates of C$1.10 by C($1.15). The business had revenue of C$230.80 million for the quarter, compared to analysts’ expectations of C$239.77 million. Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. Analysts predict that Cargojet will post 5.8949934 EPS for the current year.

Wall Street Analyst Weigh In

CJT has been the subject of several recent research reports. Cormark boosted their price target on Cargojet from C$135.00 to C$140.00 in a report on Thursday, August 15th. Royal Bank of Canada increased their target price on shares of Cargojet from C$182.00 to C$189.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Acumen Capital increased their price objective on shares of Cargojet from C$175.00 to C$178.00 in a research note on Thursday, August 15th. Scotiabank cut shares of Cargojet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, ATB Capital increased their price target on Cargojet from C$160.00 to C$165.00 in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$159.55.

Insiders Place Their Bets

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

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.