Cargojet (TSE:CJT) Given New C$122.00 Price Target at Canadian Imperial Bank of Commerce

Cargojet (TSE:CJT) had its price target hoisted by Canadian Imperial Bank of Commerce from C$116.00 to C$122.00 in a report published on Thursday morning,BayStreet.CA reports.

Other equities analysts have also issued research reports about the stock. Raymond James Financial boosted their price objective on shares of Cargojet from C$95.00 to C$120.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Desjardins lifted their target price on shares of Cargojet from C$117.00 to C$126.00 in a research note on Thursday, February 26th. Royal Bank Of Canada cut their price target on Cargojet from C$151.00 to C$143.00 and set an “outperform” rating for the company in a report on Monday, December 22nd. BMO Capital Markets increased their price target on Cargojet from C$90.00 to C$94.00 and gave the stock a “market perform” rating in a research note on Thursday, February 26th. Finally, Scotiabank lifted their price objective on Cargojet from C$115.00 to C$118.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$126.00.

Cargojet Stock Up 1.9%

CJT opened at C$82.76 on Thursday. The firm has a market cap of C$1.23 billion, a P/E ratio of 15.79 and a beta of 0.70. The business’s fifty day simple moving average is C$90.60 and its 200 day simple moving average is C$86.30. Cargojet has a 52 week low of C$65.60 and a 52 week high of C$113.89. The company has a quick ratio of 0.79, a current ratio of 1.23 and a debt-to-equity ratio of 155.48.

Cargojet (TSE:CJT) last announced its earnings results on Tuesday, February 24th. The company reported C$1.47 earnings per share for the quarter. Cargojet had a net margin of 8.08% and a return on equity of 10.73%. The firm had revenue of C$284.70 million during the quarter. As a group, equities research analysts anticipate that Cargojet will post 5.890933 EPS for the current fiscal year.

Cargojet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd were issued a $0.385 dividend. This is a boost from Cargojet’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, March 20th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 1.9%. Cargojet’s dividend payout ratio (DPR) is 26.72%.

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.