FY2024 EPS Estimates for Cargojet Boosted by Analyst

Cargojet Inc. (TSE:CJT) – Equities researchers at National Bank Financial lifted their FY2024 earnings per share estimates for shares of Cargojet in a research note issued to investors on Tuesday, November 5th. National Bank Financial analyst C. Doerksen now anticipates that the company will post earnings per share of $4.94 for the year, up from their previous estimate of $4.55. The consensus estimate for Cargojet’s current full-year earnings is $5.89 per share. National Bank Financial also issued estimates for Cargojet’s Q4 2024 earnings at $1.65 EPS.

Other research analysts have also recently issued research reports about the company. ATB Capital reduced their price objective on Cargojet from C$165.00 to C$155.00 in a research note on Wednesday. Cormark boosted their price target on Cargojet from C$135.00 to C$140.00 in a research report on Thursday, August 15th. TD Securities lowered their price objective on shares of Cargojet from C$176.00 to C$167.00 in a research report on Wednesday. Acumen Capital boosted their target price on shares of Cargojet from C$175.00 to C$178.00 in a research report on Thursday, August 15th. Finally, National Bankshares raised their price target on shares of Cargojet from C$154.00 to C$158.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cargojet presently has a consensus rating of “Moderate Buy” and an average price target of C$159.00.

Cargojet Stock Up 0.7 %

Shares of Cargojet stock opened at C$138.00 on Friday. Cargojet has a twelve month low of C$82.22 and a twelve month high of C$144.97. The stock has a market cap of C$2.23 billion, a price-to-earnings ratio of -145.26 and a beta of 0.91. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84. The company has a fifty day moving average price of C$133.91 and a 200 day moving average price of C$127.39.

Cargojet (TSE:CJT) last released its quarterly earnings data 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 business had revenue of C$230.80 million during the quarter, compared to analyst estimates of C$239.77 million.

Cargojet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, October 4th were issued a dividend of $0.35 per share. This is a positive change from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, September 20th. Cargojet’s dividend payout ratio (DPR) is currently -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.