Cargojet Inc. (TSE:CJT) Receives Consensus Rating of “Buy” from Brokerages

Cargojet Inc. (TSE:CJTGet Rating) has been assigned a consensus recommendation of “Buy” from the twelve analysts that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$218.00.

Several research firms have weighed in on CJT. Royal Bank of Canada cut their target price on shares of Cargojet from C$311.00 to C$302.00 and set an “outperform” rating on the stock in a report on Wednesday, March 30th. Cormark lowered their price objective on shares of Cargojet from C$275.00 to C$210.00 and set a “na” rating for the company in a research report on Tuesday, March 8th. ATB Capital increased their price objective on shares of Cargojet from C$225.00 to C$230.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 3rd. TD Securities increased their price objective on shares of Cargojet from C$210.00 to C$225.00 and gave the stock a “buy” rating in a research report on Tuesday, May 3rd. Finally, National Bankshares lowered their price objective on shares of Cargojet from C$199.00 to C$185.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 3rd.

CJT opened at C$149.03 on Friday. The firm’s fifty day moving average is C$159.95 and its two-hundred day moving average is C$168.60. The company has a debt-to-equity ratio of 58.93, a quick ratio of 1.73 and a current ratio of 2.04. The firm has a market cap of C$2.58 billion and a PE ratio of 15.67. Cargojet has a twelve month low of C$140.53 and a twelve month high of C$214.50.

Cargojet (TSE:CJTGet Rating) last posted its earnings results on Monday, March 7th. The company reported C$2.67 earnings per share for the quarter, topping the consensus estimate of C$1.93 by C$0.74. The firm had revenue of C$235.90 million during the quarter, compared to analyst estimates of C$213.20 million. Equities analysts forecast that Cargojet will post 7.6999995 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 5th. Investors of record on Tuesday, April 5th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Friday, March 18th. Cargojet’s dividend payout ratio (DPR) is currently 10.94%.

About Cargojet (Get Rating)

Cargojet Inc provides time sensitive overnight air cargo services in Canada. Its air cargo business activities include operation of domestic air cargo network services between fourteen cities in North America; and provision of dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis operating between points in Canada, North and South America, and Europe.

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Analyst Recommendations for Cargojet (TSE:CJT)

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