Cargojet (TSE:CJT) Hits New 12-Month Low at $105.75

Shares of Cargojet Inc. (TSE:CJT – Get Rating) reached a new 52-week low on Monday . The company traded as low as C$105.75 and last traded at C$106.20, with a volume of 14724 shares. The stock had previously closed at C$108.19.

Analyst Ratings Changes

A number of research firms have recently issued reports on CJT. Cormark cut shares of Cargojet from a “buy” rating to a “market perform” rating and cut their target price for the company from C$175.00 to C$120.00 in a research note on Tuesday, March 7th. Royal Bank of Canada dropped their price objective on shares of Cargojet from C$247.00 to C$231.00 and set an “outperform” rating for the company in a research report on Tuesday, March 7th. CIBC dropped their price objective on shares of Cargojet from C$196.00 to C$193.00 in a research report on Tuesday, March 7th. National Bankshares dropped their price objective on shares of Cargojet from C$147.00 to C$140.00 and set a “sector perform” rating for the company in a research report on Tuesday, March 7th. Finally, Scotiabank dropped their price objective on shares of Cargojet from C$180.00 to C$172.00 in a research report on Tuesday, March 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$165.60.

Cargojet Stock Up 1.1 %

The firm’s 50-day simple moving average is C$122.37 and its 200 day simple moving average is C$125.24. The company has a debt-to-equity ratio of 71.94, a quick ratio of 0.79 and a current ratio of 0.87. The stock has a market capitalization of C$1.87 billion, a P/E ratio of 6.39 and a beta of 0.89.

Cargojet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Thursday, January 5th were given a dividend of $0.286 per share. The ex-dividend date of this dividend was Monday, December 19th. This represents a $1.14 annualized dividend and a yield of 1.05%. Cargojet’s dividend payout ratio (DPR) is presently 6.69%.

About Cargojet

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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.