Cargojet (TSE:CJT) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Cargojet Inc. (TSE:CJT) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$86.48 and traded as high as C$88.56. Cargojet shares last traded at C$86.05, with a volume of 62,405 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on CJT shares. Royal Bank Of Canada dropped their price target on Cargojet from C$143.00 to C$140.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. TD cut their target price on shares of Cargojet from C$124.00 to C$118.00 in a research note on Wednesday, July 15th. National Bank Financial raised their price target on shares of Cargojet from C$108.00 to C$109.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. Canadian Imperial Bank of Commerce lifted their price target on shares of Cargojet from C$116.00 to C$122.00 in a report on Thursday, April 2nd. Finally, BMO Capital Markets cut their price objective on shares of Cargojet from C$94.00 to C$85.00 and set a “market perform” rating for the company in a research report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$124.17.

Cargojet Price Performance

The company has a 50-day moving average of C$84.29 and a two-hundred day moving average of C$86.48. The stock has a market capitalization of C$1.28 billion, a PE ratio of 35.12 and a beta of 1.02. The company has a debt-to-equity ratio of 123.57, a current ratio of 0.91 and a quick ratio of 0.79.

Cargojet (TSE:CJT) last issued its quarterly earnings results on Monday, May 4th. The company reported C$0.60 earnings per share (EPS) for the quarter. Cargojet had a return on equity of 4.92% and a net margin of 3.64%.The firm had revenue of C$254.70 million for the quarter. Sell-side analysts predict that Cargojet Inc. will post 5.890933 EPS for the current fiscal year.

Cargojet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, July 6th were issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Friday, June 19th. Cargojet’s payout ratio is presently 58.57%.

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.