Cargojet (CJT) Set to Announce Earnings on Monday

Cargojet (TSE:CJT) will release its earnings data after the market closes on Monday, November 4th. Analysts expect Cargojet to post earnings of C$1.15 per share for the quarter.

Cargojet (TSE:CJT) last issued its quarterly earnings results on Tuesday, August 13th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.10 by C($1.15). Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. The business had revenue of C$230.80 million during the quarter, compared to analyst estimates of C$239.77 million.

Cargojet Trading Up 1.5 %

Shares of TSE:CJT opened at C$138.07 on Friday. The stock has a market capitalization of C$2.23 billion, a PE ratio of -146.52 and a beta of 0.91. The company’s 50-day moving average price is C$132.91 and its two-hundred day moving average price is C$126.35. The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79. Cargojet has a one year low of C$80.69 and a one year high of C$143.64.

Cargojet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, October 4th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, September 20th. This is a positive change from Cargojet’s previous quarterly dividend of $0.32. Cargojet’s dividend payout ratio is presently -147.37%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CJT shares. Cormark boosted their price target on Cargojet from C$135.00 to C$140.00 in a research report on Thursday, August 15th. National Bankshares boosted their target price on shares of Cargojet from C$154.00 to C$158.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Scotiabank cut shares of Cargojet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Acumen Capital boosted their price objective on shares of Cargojet from C$175.00 to C$178.00 in a research note on Thursday, August 15th. Finally, Canaccord Genuity Group upped their target price on shares of Cargojet from C$156.00 to C$160.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$160.27.

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.