Cargojet (TSE:CJT) Price Target Raised to C$165.00

Cargojet (TSE:CJT) had its price objective upped by Canaccord Genuity Group from C$160.00 to C$165.00 in a report released on Wednesday,BayStreet.CA reports.

Several other analysts have also recently weighed in on the company. National Bankshares raised their price target on Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Scotiabank downgraded shares of Cargojet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 10th. ATB Capital boosted their price target on shares of Cargojet from C$160.00 to C$165.00 in a research note on Thursday, August 15th. Acumen Capital raised their price objective on shares of Cargojet from C$175.00 to C$178.00 in a research report on Thursday, August 15th. Finally, Cormark upped their target price on shares of Cargojet from C$135.00 to C$140.00 in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cargojet presently has an average rating of “Moderate Buy” and a consensus target price of C$159.00.

Cargojet Stock Up 0.7 %

Shares of TSE CJT opened at C$138.00 on Wednesday. The stock has a market capitalization of C$2.23 billion, a PE ratio of -145.26 and a beta of 0.91. The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79. The business’s fifty day moving average price is C$133.91 and its 200-day moving average price is C$127.39. Cargojet has a one year low of C$82.22 and a one year high of C$144.97.

Cargojet (TSE:CJT) last posted its earnings results on Tuesday, August 13th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of C$239.77 million. On average, equities research analysts anticipate that Cargojet will post 5.890933 EPS for the current year.

Cargojet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, October 4th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, September 20th. This is a boost from Cargojet’s previous quarterly dividend of $0.32. Cargojet’s dividend payout ratio (DPR) 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.