Cargojet (TSE:CJT) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

Cargojet Inc. (TSE:CJT)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$86.48 and traded as low as C$78.27. Cargojet shares last traded at C$78.62, with a volume of 50,162 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CJT. Scotiabank raised their price target on Cargojet from C$115.00 to C$118.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. National Bank Financial upped their price target on Cargojet from C$95.00 to C$108.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Royal Bank Of Canada reduced their price objective on shares of Cargojet from C$151.00 to C$143.00 and set an “outperform” rating for the company in a research note on Monday, December 22nd. Stifel Nicolaus raised their target price on Cargojet from C$100.00 to C$120.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Desjardins raised their price target on shares of Cargojet from C$117.00 to C$126.00 in a report on Thursday, February 26th. Nine investment 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.com, Cargojet currently has an average rating of “Moderate Buy” and a consensus target price of C$125.45.

Cargojet Stock Down 1.7%

The stock has a market cap of C$1.17 billion, a price-to-earnings ratio of 15.00 and a beta of 0.70. The business has a fifty day moving average of C$91.26 and a 200 day moving average of C$86.48. The company has a debt-to-equity ratio of 155.48, a current ratio of 1.23 and a quick ratio of 0.79.

Cargojet (TSE:CJT) last posted its earnings results on Tuesday, February 24th. The company reported C$1.47 earnings per share (EPS) for the quarter. The firm 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%. On average, equities analysts predict that Cargojet Inc. will post 5.890933 earnings per share for the current year.

Cargojet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Thursday, April 2nd will be given a dividend of $0.385 per share. The ex-dividend date of this dividend is Friday, March 20th. This is a positive change from Cargojet’s previous quarterly dividend of $0.35. This represents a $1.54 annualized dividend and a yield of 2.0%. Cargojet’s dividend payout ratio (DPR) is currently 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.