Cargojet (TSE:CJT) Sets New 1-Year Low After Analyst Downgrade

Cargojet Inc. (TSE:CJT) hit a new 52-week low during mid-day trading on Thursday after Scotiabank lowered their price target on the stock from C$165.00 to C$139.00. Scotiabank currently has an outperform rating on the stock. Cargojet traded as low as C$79.63 and last traded at C$82.16, with a volume of 97234 shares trading hands. The stock had previously closed at C$81.63.

Other equities analysts have also recently issued reports about the company. Cormark lowered their price target on Cargojet from C$140.00 to C$120.00 in a report on Wednesday, February 19th. National Bankshares decreased their target price on Cargojet from C$158.00 to C$151.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. CIBC cut their price target on Cargojet from C$177.00 to C$163.00 in a report on Wednesday, February 19th. Royal Bank of Canada boosted their price objective on Cargojet from C$189.00 to C$193.00 in a research note on Wednesday, February 19th. Finally, Canaccord Genuity Group lifted their price target on shares of Cargojet from C$165.00 to C$173.00 in a report on Wednesday, February 19th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cargojet currently has a consensus rating of “Buy” and an average price target of C$160.20.

Cargojet Trading Up 0.6 %

The company has a 50-day moving average of C$100.54 and a 200 day moving average of C$116.08. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79. The company has a market cap of C$1.31 billion, a PE ratio of 576.60 and a beta of 0.91.

Cargojet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, April 4th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Thursday, March 20th. Cargojet’s dividend payout ratio (DPR) is 982.53%.

About Cargojet

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.