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

Cargojet Inc. (TSE:CJT) has earned an average rating of “Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$148.25.

A number of equities research analysts have issued reports on CJT shares. Royal Bank Of Canada reduced their price objective on shares of Cargojet from C$183.00 to C$177.00 in a research note on Monday, April 28th. Stifel Nicolaus set a C$125.00 price target on shares of Cargojet and gave the company a “buy” rating in a research note on Thursday, June 12th. Scotiabank raised their price target on shares of Cargojet from C$138.00 to C$140.00 and gave the company an “outperform” rating in a research note on Friday. TD Securities raised their price target on shares of Cargojet from C$150.00 to C$160.00 and gave the company a “buy” rating in a research note on Friday. Finally, ATB Capital reduced their price target on shares of Cargojet from C$155.00 to C$145.00 and set an “outperform” rating on the stock in a research note on Friday.

Cargojet Trading Up 3.4%

CJT stock opened at C$102.01 on Friday. The company has a debt-to-equity ratio of 98.69, a quick ratio of 0.79 and a current ratio of 0.56. The company’s 50-day simple moving average is C$98.80 and its 200 day simple moving average is C$95.28. Cargojet has a 52 week low of C$69.60 and a 52 week high of C$144.97. The company has a market capitalization of C$1.63 billion, a PE ratio of 715.91 and a beta of 0.91.

Cargojet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 4th. Investors of record on Friday, July 4th were given a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $1.40 annualized dividend and a yield of 1.4%. Cargojet’s dividend payout ratio (DPR) is presently 982.53%.

Cargojet Company Profile

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.