Cargojet Q3 EPS Decreased by National Bank Financial

Cargojet Inc. (TSE:CJT) – Stock analysts at National Bank Financial lowered their Q3 2024 earnings per share estimates for shares of Cargojet in a research note issued to investors on Wednesday, October 16th. National Bank Financial analyst C. Doerksen now forecasts that the company will post earnings of $1.02 per share for the quarter, down from their prior forecast of $1.05. The consensus estimate for Cargojet’s current full-year earnings is $5.89 per share. National Bank Financial also issued estimates for Cargojet’s FY2024 earnings at $4.55 EPS.

Other research analysts have also issued research reports about the company. Scotiabank lowered Cargojet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. ATB Capital raised their price objective on Cargojet from C$160.00 to C$165.00 in a research report on Thursday, August 15th. Cormark upped their target price on shares of Cargojet from C$135.00 to C$140.00 in a research report on Thursday, August 15th. National Bankshares lifted their price target on shares of Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Canaccord Genuity Group boosted their price objective on shares of Cargojet from C$150.00 to C$156.00 in a research note on Wednesday, July 24th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$159.91.

Cargojet Stock Performance

Shares of CJT opened at C$138.62 on Friday. The company has a 50-day simple moving average of C$130.03 and a two-hundred day simple moving average of C$124.87. The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79. The firm has a market capitalization of C$2.24 billion, a PE ratio of -145.16 and a beta of 0.91. Cargojet has a one year low of C$76.50 and a one year high of C$143.64.

Cargojet (TSE:CJT) last posted its earnings results on Tuesday, August 13th. The company reported C($0.05) EPS for the quarter, missing the consensus estimate 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 company had revenue of C$230.80 million during the quarter, compared to analysts’ expectations of C$239.77 million.

Cargojet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, October 4th were issued a dividend of $0.35 per share. This is a boost 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 dividend on an annualized basis and a dividend yield of 1.01%. Cargojet’s dividend payout ratio is presently -147.37%.

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.