Cargojet Inc. (TSE:CJT) Given Consensus Recommendation of “Buy” by Brokerages

Cargojet Inc. (TSE:CJT) has been given an average rating of “Buy” by the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$148.50.

CJT has been the subject of several research reports. TD Securities increased their price objective on Cargojet from C$150.00 to C$154.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Stifel Canada raised Cargojet to a “strong-buy” rating in a research report on Wednesday, June 11th. Scotiabank lowered their price objective on Cargojet from C$165.00 to C$139.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd. BMO Capital Markets lowered their price objective on Cargojet from C$120.00 to C$95.00 in a research report on Tuesday, April 15th. Finally, Royal Bank Of Canada lowered their price objective on Cargojet from C$183.00 to C$177.00 in a research report on Monday, April 28th.

Cargojet Price Performance

Shares of TSE:CJT opened at C$104.37 on Tuesday. Cargojet has a fifty-two week low of C$69.60 and a fifty-two week high of C$144.97. The stock has a market capitalization of C$1.67 billion, a P/E ratio of 732.48 and a beta of 0.91. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79. The business has a 50-day moving average of C$95.13 and a two-hundred day moving average of C$96.81.

Cargojet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 4th. Stockholders of record on Friday, July 4th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Friday, June 20th. Cargojet’s dividend payout ratio is currently 982.53%.

About Cargojet

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.