Scotiabank Issues Positive Forecast for Cargojet (TSE:CJT) Stock Price

Cargojet (TSE:CJT) had its target price hoisted by Scotiabank from C$105.00 to C$115.00 in a research note published on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued research reports about the company. Desjardins lifted their target price on Cargojet from C$117.00 to C$118.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Royal Bank Of Canada dropped their price objective on Cargojet from C$151.00 to C$143.00 and set an “outperform” rating on the stock in a research note on Monday, December 22nd. Raymond James Financial reduced their target price on shares of Cargojet from C$132.00 to C$95.00 in a research note on Monday, November 10th. CIBC lowered their target price on shares of Cargojet from C$142.00 to C$132.00 in a report on Wednesday, October 8th. Finally, Stifel Nicolaus cut their price target on shares of Cargojet from C$120.00 to C$100.00 in a report on Monday, November 10th. Nine analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Cargojet has an average rating of “Buy” and a consensus target price of C$126.62.

Cargojet Stock Up 3.2%

Shares of TSE CJT opened at C$93.17 on Wednesday. The company has a debt-to-equity ratio of 98.69, a current ratio of 0.56 and a quick ratio of 0.79. The company has a 50-day moving average price of C$82.13 and a 200-day moving average price of C$90.08. The stock has a market capitalization of C$1.41 billion, a P/E ratio of 11.84 and a beta of 0.79. Cargojet has a 1 year low of C$65.60 and a 1 year high of C$128.19.

Cargojet (TSE:CJT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported C$0.32 earnings per share for the quarter. The business had revenue of C$219.90 million for the quarter. Cargojet had a net margin of 0.25% and a return on equity of 0.31%. On average, equities research analysts forecast that Cargojet will post 5.890933 EPS for the current fiscal year.

Cargojet Announces Dividend

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

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.