Research Analysts Issue Forecasts for Cargojet Inc.’s Q3 2024 Earnings (TSE:CJT)

Cargojet Inc. (TSE:CJT) – Equities researchers at Cormark lifted their Q3 2024 earnings per share (EPS) estimates for shares of Cargojet in a research note issued on Tuesday, April 30th. Cormark analyst D. Ocampo now anticipates that the company will post earnings per share of $0.93 for the quarter, up from their previous forecast of $0.71. The consensus estimate for Cargojet’s current full-year earnings is $3.69 per share. Cormark also issued estimates for Cargojet’s FY2024 earnings at $4.90 EPS, Q3 2025 earnings at $1.00 EPS and FY2025 earnings at $4.12 EPS.

Several other equities analysts also recently weighed in on the company. Scotiabank raised their price objective on Cargojet from C$142.00 to C$145.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. National Bankshares raised their price target on Cargojet from C$129.00 to C$132.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Laurentian raised Cargojet from a “hold” rating to a “buy” rating and raised their price target for the stock from C$102.00 to C$150.00 in a research report on Tuesday, January 16th. TD Securities upped their target price on Cargojet from C$157.00 to C$162.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada lowered their price target on Cargojet from C$184.00 to C$182.00 and set an “outperform” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$148.91.

Cargojet Stock Performance

TSE CJT opened at C$120.02 on Friday. Cargojet has a 1-year low of C$76.50 and a 1-year high of C$125.44. The company has a market capitalization of C$2.02 billion, a P/E ratio of 55.06 and a beta of 1.03. The business has a 50 day moving average price of C$112.36 and a 200 day moving average price of C$108.51. 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) earnings per share for the quarter, missing the consensus estimate of C$0.88 by C($1.02). Cargojet had a net margin of 4.25% and a return on equity of 4.62%. The firm had revenue of C$221.90 million during the quarter, compared to analysts’ expectations of C$250.58 million.

Cargojet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Wednesday, March 20th were given a dividend of $0.315 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from Cargojet’s previous quarterly dividend of $0.03. Cargojet’s dividend payout ratio (DPR) is presently 57.80%.

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.