Cormark Has Bullish Outlook for Cargojet FY2024 Earnings

Cargojet Inc. (TSE:CJT - Free Report) - Analysts at Cormark raised their FY2024 earnings estimates for Cargojet in a note issued to investors on Wednesday, November 6th. Cormark analyst D. Ocampo now forecasts that the company will earn $5.13 per share for the year, up from their prior forecast of $4.54. The consensus estimate for Cargojet's current full-year earnings is $5.89 per share. Cormark also issued estimates for Cargojet's Q4 2025 earnings at $2.00 EPS.

Several other equities analysts also recently issued reports on CJT. TD Securities cut their price objective on shares of Cargojet from C$176.00 to C$167.00 in a report on Wednesday. Acumen Capital upped their price objective on shares of Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. ATB Capital cut their price objective on shares of Cargojet from C$165.00 to C$155.00 in a report on Wednesday. National Bankshares upped their price objective on shares of Cargojet from C$154.00 to C$158.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Finally, Canaccord Genuity Group increased their price target on shares of Cargojet from C$160.00 to C$165.00 in a report on Wednesday. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$159.00.

Cargojet Stock Up 0.7 %

Shares of CJT traded up C$0.95 during mid-day trading on Friday, hitting C$138.00. 92,812 shares of the company traded hands, compared to its average volume of 55,564. Cargojet has a 1-year low of C$82.22 and a 1-year high of C$144.97. The company has a quick ratio of 0.79, a current ratio of 0.59 and a debt-to-equity ratio of 99.84. The company has a market capitalization of C$2.23 billion, a PE ratio of -144.26 and a beta of 0.91. The business has a 50 day moving average of C$133.73 and a 200 day moving average of C$127.21.

Cargojet (TSE:CJT - Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported C($0.05) EPS for the quarter, missing the consensus estimate of C$1.10 by C($1.15). The firm had revenue of C$230.80 million for the quarter, compared to analysts' expectations of C$239.77 million. Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%.

Cargojet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, October 4th were paid a dividend of $0.35 per share. This is a boost from Cargojet's previous quarterly dividend of $0.32. The ex-dividend date was Friday, September 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.01%. Cargojet's dividend payout ratio (DPR) is presently -147.37%.

Cargojet Company Profile

Cargojet Inc provides time sensitive overnight air cargo services and carriers in Canada. It operates domestic air cargo network services between 16 Canadian cities; and provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis operating between points in Canada, North and South America, and Europe.