Cormark Issues Positive Forecast for Cargojet Earnings

Cargojet Inc. (TSE:CJT) – Analysts at Cormark upped their Q4 2024 EPS estimates for Cargojet in a research report issued to clients and investors on Wednesday, November 6th. Cormark analyst D. Ocampo now anticipates that the company will post earnings per share of $1.82 for the quarter, up from their prior forecast of $1.80. The consensus estimate for Cargojet’s current full-year earnings is $5.89 per share. Cormark also issued estimates for Cargojet’s Q1 2025 earnings at $1.29 EPS, Q2 2025 earnings at $1.36 EPS, Q3 2025 earnings at $1.59 EPS and FY2025 earnings at $6.24 EPS.

Other equities analysts have also recently issued reports about the company. National Bankshares boosted their target price 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. Acumen Capital lifted their target price on shares of Cargojet from C$175.00 to C$178.00 in a research note on Thursday, August 15th. ATB Capital decreased their price target on shares of Cargojet from C$165.00 to C$155.00 in a research note on Wednesday. TD Securities cut their price objective on Cargojet from C$176.00 to C$167.00 in a research report on Wednesday. Finally, Canaccord Genuity Group increased their target price on Cargojet from C$160.00 to C$165.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cargojet has a consensus rating of “Moderate Buy” and an average price target of C$159.00.

Cargojet Stock Performance

Cargojet stock opened at C$137.05 on Thursday. Cargojet has a 1-year low of C$82.22 and a 1-year high of C$144.97. The firm has a market cap of C$2.21 billion, a P/E ratio of -144.26 and a beta of 0.91. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84. The firm has a 50-day moving average of C$133.73 and a 200-day moving average of C$127.21.

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

Cargojet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, October 4th were paid a dividend of $0.35 per share. This is a positive change from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Friday, September 20th. Cargojet’s dividend payout ratio (DPR) is currently -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.