Cargojet Inc. (TSE:CJT – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$124.10 and traded as high as C$138.94. Cargojet shares last traded at C$137.69, with a volume of 32,103 shares changing hands.
Wall Street Analysts Forecast Growth
CJT has been the subject of several recent analyst reports. Cormark increased their target price on Cargojet from C$135.00 to C$140.00 in a research note on Thursday, August 15th. TD Securities lifted their target price on Cargojet from C$173.00 to C$176.00 in a research note on Thursday, August 15th. ATB Capital lifted their price objective on Cargojet from C$160.00 to C$165.00 in a research note on Thursday, August 15th. Canaccord Genuity Group lifted their target price on Cargojet from C$150.00 to C$156.00 in a report on Wednesday, July 24th. Finally, National Bankshares upgraded Cargojet from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$132.00 to C$154.00 in a report on Friday, June 14th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cargojet has a consensus rating of “Moderate Buy” and a consensus price target of C$159.55.
View Our Latest Analysis on Cargojet
Cargojet Stock Up 2.7 %
Cargojet (TSE:CJT – Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.10 by C($1.15). Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. The company had revenue of C$230.80 million for the quarter, compared to analyst estimates of C$239.77 million. Sell-side analysts predict that Cargojet Inc. will post 5.890933 EPS for the current fiscal year.
Cargojet Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, October 4th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, September 20th. This is a boost from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.02%. Cargojet’s dividend payout ratio is presently -147.37%.
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.
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