National Bank Financial Cuts Earnings Estimates for Cargojet

Cargojet Inc. (TSE:CJT - Free Report) - Equities researchers at National Bank Financial reduced their FY2024 EPS estimates for Cargojet in a research note issued on Monday, January 20th. National Bank Financial analyst C. Doerksen now anticipates that the company will earn $4.70 per share for the year, down from their previous forecast of $4.94. The consensus estimate for Cargojet's current full-year earnings is $5.89 per share. National Bank Financial also issued estimates for Cargojet's FY2025 earnings at $5.54 EPS and FY2026 earnings at $6.40 EPS.

A number of other equities research analysts have also recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of Cargojet from C$160.00 to C$165.00 in a report on Wednesday, November 6th. National Bankshares decreased their price objective on Cargojet from C$158.00 to C$151.00 and set an "outperform" rating on the stock in a research note on Tuesday. ATB Capital cut their target price on Cargojet from C$165.00 to C$155.00 in a research note on Wednesday, November 6th. Scotiabank lowered their price target on shares of Cargojet from C$174.00 to C$170.00 in a report on Monday. Finally, CIBC boosted their price objective on shares of Cargojet from C$172.00 to C$177.00 in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cargojet presently has a consensus rating of "Moderate Buy" and an average target price of C$160.50.

Cargojet Stock Performance

Shares of TSE CJT traded up C$0.17 during midday trading on Thursday, hitting C$123.27. The company's stock had a trading volume of 46,326 shares, compared to its average volume of 87,161. The firm has a market capitalization of C$1.99 billion, a price-to-earnings ratio of -129.76 and a beta of 0.91. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84. The stock has a fifty day moving average price of C$114.89 and a 200 day moving average price of C$125.64. Cargojet has a one year low of C$100.01 and a one year high of C$144.97.

Cargojet (TSE:CJT - Get Free Report) last released its earnings results on Monday, November 4th. The company reported C$1.48 earnings per share for the quarter, beating analysts' consensus estimates of C$1.14 by C$0.34. Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. During the same quarter in the prior year, the company posted $0.30 earnings per share.

Cargojet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, January 3rd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.14%. The ex-dividend date was Friday, December 20th. Cargojet's dividend payout ratio is presently -147.37%.

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.