TD Securities Cuts Cargojet (TSE:CJT) Price Target to C$167.00

Cargojet (TSE:CJT) had its price objective decreased by TD Securities from C$176.00 to C$167.00 in a report published on Wednesday,BayStreet.CA reports.

Several other research firms have also recently weighed in on CJT. Acumen Capital lifted their price objective on Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. Canaccord Genuity Group upped their price target 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. Cormark raised their price objective on shares of Cargojet from C$135.00 to C$140.00 in a report on Thursday, August 15th. National Bankshares boosted their price objective 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, October 17th. Finally, ATB Capital increased their target price on Cargojet from C$160.00 to C$165.00 in a report on Thursday, August 15th. Two 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$159.00.

Cargojet Trading Up 0.7 %

CJT opened at C$138.00 on Wednesday. The firm has a 50 day simple moving average of C$133.91 and a 200 day simple moving average of C$127.39. Cargojet has a fifty-two week low of C$82.22 and a fifty-two week high of C$144.97. The company has a market cap of C$2.23 billion, a price-to-earnings ratio of -145.26 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.

Cargojet (TSE:CJT) last announced its quarterly earnings results on Tuesday, August 13th. The company reported C($0.05) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of C$230.80 million for the quarter, compared to the consensus estimate of C$239.77 million. On average, sell-side analysts anticipate that Cargojet will post 5.890933 earnings per share for the current year.

Cargojet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, October 4th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, September 20th. This is an increase from Cargojet’s previous quarterly dividend of $0.32. 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.