Q2 2023 Earnings Forecast for Cargojet Inc. Issued By Atb Cap Markets (TSE:CJT)

Cargojet Inc. (TSE:CJTGet Rating) – Stock analysts at Atb Cap Markets dropped their Q2 2023 EPS estimates for shares of Cargojet in a research note issued on Monday, March 6th. Atb Cap Markets analyst C. Murray now forecasts that the company will post earnings per share of $1.60 for the quarter, down from their prior estimate of $1.67. The consensus estimate for Cargojet’s current full-year earnings is $6.18 per share. Atb Cap Markets also issued estimates for Cargojet’s FY2023 earnings at $6.35 EPS, Q1 2024 earnings at $1.67 EPS and Q2 2024 earnings at $1.92 EPS.

Other research analysts have also issued reports about the stock. TD Securities reissued a “buy” rating and issued a C$185.00 target price (down from C$195.00) on shares of Cargojet in a research note on Tuesday. CIBC cut their price target on shares of Cargojet from C$196.00 to C$193.00 in a report on Tuesday. ATB Capital cut their price target on shares of Cargojet from C$185.00 to C$150.00 in a report on Tuesday. BMO Capital Markets cut their price target on shares of Cargojet from C$140.00 to C$130.00 in a report on Tuesday. Finally, Acumen Capital cut their price target on shares of Cargojet from C$200.00 to C$180.00 in a report on Tuesday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$165.60.

Cargojet Trading Up 4.7 %

CJT opened at C$113.08 on Wednesday. The company has a debt-to-equity ratio of 71.94, a current ratio of 0.87 and a quick ratio of 0.79. The company’s 50 day simple moving average is C$123.00 and its two-hundred day simple moving average is C$126.49. Cargojet has a 1-year low of C$106.16 and a 1-year high of C$194.19. The firm has a market capitalization of C$1.94 billion, a price-to-earnings ratio of 6.33 and a beta of 0.89.

Cargojet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Thursday, January 5th were issued a $0.286 dividend. This represents a $1.14 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Monday, December 19th. Cargojet’s dividend payout ratio (DPR) is presently 6.69%.

Cargojet Company Profile

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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.

Further Reading

Earnings History and Estimates for Cargojet (TSE:CJT)

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