Cargojet (TSE:CJT) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Cargojet Inc. (TSE:CJT) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$89.68 and traded as high as C$94.75. Cargojet shares last traded at C$92.96, with a volume of 163,985 shares changing hands.

Analyst Upgrades and Downgrades

CJT has been the subject of a number of recent research reports. National Bankshares boosted their price objective on Cargojet from C$95.00 to C$108.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Scotiabank boosted their price target on Cargojet from C$105.00 to C$115.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. CIBC dropped their price objective on shares of Cargojet from C$142.00 to C$132.00 in a research note on Wednesday, October 8th. Raymond James Financial boosted their target price on shares of Cargojet from C$95.00 to C$120.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Finally, Desjardins increased their price target on shares of Cargojet from C$117.00 to C$118.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Cargojet presently has an average rating of “Buy” and a consensus price target of C$127.62.

Cargojet Trading Down 1.8%

The company’s fifty day simple moving average is C$85.05 and its 200-day simple moving average is C$89.68. The firm has a market capitalization of C$1.40 billion, a PE ratio of 11.81 and a beta of 0.79. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79.

Cargojet (TSE:CJT) last released its quarterly earnings results on Wednesday, November 5th. The company reported C$0.32 earnings per share for the quarter. Cargojet had a net margin of 0.25% and a return on equity of 0.31%. The firm had revenue of C$219.90 million during the quarter. As a group, sell-side analysts expect that Cargojet Inc. will post 5.890933 earnings per share for the current fiscal year.

Cargojet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, January 5th were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, December 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. Cargojet’s payout ratio is currently 17.79%.

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.