Brokerages Set Cargojet Inc. (TSE:CJT) Target Price at C$159.55

Cargojet Inc. (TSE:CJT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$159.55.

A number of research firms recently commented on CJT. Royal Bank of Canada upped their price objective on Cargojet from C$182.00 to C$189.00 and gave the company an "outperform" rating in a report on Monday, July 8th. TD Securities boosted their price objective on shares of Cargojet from C$173.00 to C$176.00 in a report on Thursday, August 15th. Cormark lifted their target price on shares of Cargojet from C$135.00 to C$140.00 in a report on Thursday, August 15th. Acumen Capital raised their price target on shares of Cargojet from C$175.00 to C$178.00 in a research report on Thursday, August 15th. Finally, Scotiabank downgraded Cargojet from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 10th.

Cargojet Stock Performance

Cargojet stock traded up C$3.64 during midday trading on Friday, hitting C$137.69. 32,103 shares of the company were exchanged, compared to its average volume of 55,608. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.79 and a current ratio of 0.59. The business has a fifty day simple moving average of C$128.61 and a two-hundred day simple moving average of C$124.30. Cargojet has a fifty-two week low of C$76.50 and a fifty-two week high of C$143.64. The firm has a market capitalization of C$2.22 billion, a PE ratio of -144.94 and a beta of 0.91.

Cargojet (TSE:CJT - Get Free Report) last announced its 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 firm had revenue of C$230.80 million for 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%. On average, sell-side analysts forecast that Cargojet will post 5.890933 earnings per share for the current year.

Cargojet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, October 4th were given a dividend of $0.35 per share. This is an increase from Cargojet's previous quarterly dividend of $0.32. The ex-dividend date was Friday, September 20th. This represents a $1.40 annualized dividend and a yield of 1.02%. Cargojet's dividend payout ratio is -147.37%.

About Cargojet

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.