Cargojet (TSE:CJT) Shares Pass Above Two Hundred Day Moving Average of $105.80

Shares of Cargojet Inc. (TSE:CJT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$105.80 and traded as high as C$112.65. Cargojet shares last traded at C$111.85, with a volume of 37,970 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. ATB Capital boosted their target price on Cargojet from C$155.00 to C$160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Royal Bank of Canada decreased their target price on Cargojet from C$187.00 to C$184.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. National Bankshares boosted their target price on Cargojet from C$109.00 to C$129.00 and gave the stock a “sector perform” rating in a research note on Friday, January 5th. Cormark reduced their price objective on Cargojet from C$121.00 to C$120.00 in a research note on Tuesday, February 27th. Finally, Laurentian upgraded Cargojet from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$102.00 to C$150.00 in a research note on Tuesday, January 16th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cargojet currently has an average rating of “Moderate Buy” and a consensus target price of C$148.20.

Cargojet Price Performance

The company has a 50-day moving average of C$113.93 and a two-hundred day moving average of C$105.80. The stock has a market capitalization of C$1.89 billion, a PE ratio of 51.31 and a beta of 1.03. The company has a debt-to-equity ratio of 101.87, a current ratio of 1.49 and a quick ratio of 0.79.

Cargojet (TSE:CJT) last released its quarterly earnings data on Monday, February 26th. The company reported C($0.14) EPS for the quarter, missing analysts’ consensus estimates of C$0.88 by C($1.02). The firm had revenue of C$221.90 million during the quarter, compared to analysts’ expectations of C$250.58 million. Cargojet had a return on equity of 4.62% and a net margin of 4.25%. Sell-side analysts predict that Cargojet Inc. will post 3.6871632 EPS for the current fiscal year.

Cargojet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Wednesday, March 20th were paid a $0.315 dividend. The ex-dividend date was Tuesday, March 19th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.13%. This is a positive change from Cargojet’s previous quarterly dividend of $0.03. Cargojet’s dividend payout ratio (DPR) is 57.80%.

About Cargojet

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.