Cargojet (TSE:CJT) Reaches New 12-Month Low Following Analyst Downgrade

Shares of Cargojet Inc. (TSE:CJT - Get Free Report) hit a new 52-week low during mid-day trading on Thursday after Scotiabank lowered their price target on the stock from C$165.00 to C$139.00. Scotiabank currently has an outperform rating on the stock. Cargojet traded as low as C$79.63 and last traded at C$82.16, with a volume of 97234 shares. The stock had previously closed at C$81.63.

A number of other equities research analysts have also recently issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of Cargojet from C$165.00 to C$173.00 in a research note on Wednesday, February 19th. CIBC dropped their target price on shares of Cargojet from C$177.00 to C$163.00 in a research report on Wednesday, February 19th. Royal Bank of Canada raised their target price on Cargojet from C$189.00 to C$193.00 in a research report on Wednesday, February 19th. National Bankshares dropped their target price on shares of Cargojet from C$158.00 to C$151.00 and set an "outperform" rating for the company in a report on Thursday, January 30th. Finally, Cormark decreased their price target on shares of Cargojet from C$140.00 to C$120.00 in a research note on Wednesday, February 19th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of C$160.20.

Cargojet Trading Down 1.5 %

The company has a 50 day moving average price of C$97.69 and a 200 day moving average price of C$114.92. The company has a debt-to-equity ratio of 98.69, a quick ratio of 0.79 and a current ratio of 0.56. The firm has a market cap of C$1.17 billion, a price-to-earnings ratio of 514.92 and a beta of 0.91.

Cargojet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Friday, April 4th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.91%. The ex-dividend date was Thursday, March 20th. Cargojet's dividend payout ratio (DPR) is presently 982.53%.

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.