Cargojet (TSE:CJT) Reaches New 1-Year High - What's Next?

Cargojet Inc. (TSE:CJT - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as C$142.88 and last traded at C$140.48, with a volume of 67214 shares. The stock had previously closed at C$136.09.

Wall Street Analyst Weigh In

Several research firms have recently commented on CJT. Canaccord Genuity Group increased their target price on Cargojet from C$156.00 to C$160.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Acumen Capital lifted their price objective on Cargojet from C$175.00 to C$178.00 in a research note on Thursday, August 15th. Scotiabank downgraded shares of Cargojet from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 10th. National Bankshares raised their price objective on shares of Cargojet from C$154.00 to C$158.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Finally, ATB Capital lifted their price target on Cargojet from C$160.00 to C$165.00 in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of C$160.27.

Cargojet Price Performance

The firm has a market capitalization of C$2.23 billion, a PE ratio of -146.52 and a beta of 0.91. The company has a debt-to-equity ratio of 99.84, a current ratio of 0.59 and a quick ratio of 0.79. The firm has a 50-day simple moving average of C$132.91 and a 200-day simple moving average of C$126.35.

Cargojet (TSE:CJT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported C($0.05) EPS for the quarter, missing analysts' consensus estimates of C$1.10 by C($1.15). The business had revenue of C$230.80 million during the quarter, compared to analysts' expectations of C$239.77 million. Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. As a group, equities analysts forecast that Cargojet Inc. will post 5.890933 earnings per share for the current year.

Cargojet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, October 4th were given a dividend of $0.35 per share. The ex-dividend date was Friday, September 20th. This represents a $1.40 annualized dividend and a dividend yield of 1.01%. This is an increase from Cargojet's previous quarterly dividend of $0.32. Cargojet's payout ratio is currently -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.