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

Cargojet Inc. (TSE:CJT) has received an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$159.00.

CJT has been the subject of a number of recent analyst reports. National Bankshares upped their price target on Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Cormark increased their target price on shares of Cargojet from C$135.00 to C$140.00 in a report on Thursday, August 15th. TD Securities reduced their price target on shares of Cargojet from C$176.00 to C$167.00 in a research report on Wednesday. Canaccord Genuity Group upped their price objective on shares of Cargojet from C$160.00 to C$165.00 in a research report on Wednesday. Finally, Scotiabank downgraded Cargojet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th.

Cargojet Stock Performance

CJT stock opened at C$132.16 on Thursday. The stock has a market capitalization of C$2.13 billion, a PE ratio of -139.12 and a beta of 0.91. 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 company has a 50 day moving average price of C$133.57 and a 200 day moving average price of C$127.02. Cargojet has a fifty-two week low of C$82.22 and a fifty-two week high of C$144.97.

Cargojet (TSE:CJT) last released its earnings results on Tuesday, August 13th. The company reported C($0.05) earnings per share (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 analyst estimates of C$239.77 million. Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. Analysts forecast that Cargojet will post 5.890933 EPS for the current year.

Cargojet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, October 4th were issued a $0.35 dividend. This is a boost from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Friday, September 20th. Cargojet’s dividend payout ratio is currently -147.37%.

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.