Scotiabank Cuts Cargojet (TSE:CJT) Price Target to C$115.00

Cargojet (TSE:CJT) had its price objective cut by Scotiabank from C$118.00 to C$115.00 in a research note issued to investors on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada cut their price objective on shares of Cargojet from C$151.00 to C$143.00 and set an “outperform” rating on the stock in a report on Monday, December 22nd. National Bank Financial upped their price objective on shares of Cargojet from C$95.00 to C$108.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. BMO Capital Markets upped their price objective on shares of Cargojet from C$90.00 to C$94.00 and gave the company a “market perform” rating in a report on Thursday, February 26th. Stifel Nicolaus upped their price objective on shares of Cargojet from C$100.00 to C$120.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of Cargojet from C$116.00 to C$122.00 in a report on Thursday, April 2nd. Nine equities 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 presently has an average rating of “Moderate Buy” and a consensus target price of C$125.73.

Cargojet Stock Performance

Shares of Cargojet stock opened at C$81.31 on Thursday. The company has a market capitalization of C$1.21 billion, a PE ratio of 15.52 and a beta of 0.86. The company has a debt-to-equity ratio of 155.48, a quick ratio of 0.79 and a current ratio of 1.23. The company has a 50-day simple moving average of C$89.23 and a two-hundred day simple moving average of C$85.54. Cargojet has a one year low of C$65.60 and a one year high of C$113.89.

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

Cargojet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Stockholders of record on Thursday, April 2nd were issued a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a dividend yield of 1.9%. This is an increase from Cargojet’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, March 20th. Cargojet’s dividend payout ratio is currently 26.72%.

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.