National Bank Financial Predicts Cargojet Q3 Earnings

Cargojet Inc. (TSE:CJT - Free Report) - Analysts at National Bank Financial decreased their Q3 2024 earnings estimates for shares of Cargojet in a report issued on Wednesday, October 16th. National Bank Financial analyst C. Doerksen now expects that the company will earn $1.02 per share for the quarter, down from their previous estimate of $1.05. The consensus estimate for Cargojet's current full-year earnings is $5.89 per share. National Bank Financial also issued estimates for Cargojet's FY2024 earnings at $4.55 EPS.

Several other analysts also recently commented on CJT. Royal Bank of Canada upped their price target on shares of Cargojet from C$182.00 to C$189.00 and gave the company an "outperform" rating in a research report on Monday, July 8th. Acumen Capital increased their price target on Cargojet from C$175.00 to C$178.00 in a report on Thursday, August 15th. TD Securities upped their price objective on shares of Cargojet from C$173.00 to C$176.00 in a research report on Thursday, August 15th. Cormark raised their target price on shares of Cargojet from C$135.00 to C$140.00 in a research note on Thursday, August 15th. Finally, Canaccord Genuity Group raised their price objective on shares of Cargojet from C$150.00 to C$156.00 in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Cargojet presently has an average rating of "Moderate Buy" and a consensus target price of C$159.91.

Cargojet Stock Performance

Shares of CJT stock traded down C$0.13 during trading hours on Friday, hitting C$138.62. The stock had a trading volume of 30,599 shares, compared to its average volume of 55,154. 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 market capitalization of C$2.24 billion, a PE ratio of -145.16 and a beta of 0.91. The stock's 50 day moving average is C$130.03 and its 200 day moving average is C$124.87. Cargojet has a twelve month low of C$76.50 and a twelve month high of C$143.64.

Cargojet (TSE:CJT - Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$1.10 by C($1.15). The firm had revenue of C$230.80 million during the quarter, compared to analyst estimates 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, October 4th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.01%. This is a boost from Cargojet's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, September 20th. Cargojet's dividend payout ratio 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.