Cargojet Inc. (TSE:CJT - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$122.79 and traded as high as C$135.99. Cargojet shares last traded at C$135.91, with a volume of 26,543 shares.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on CJT. Canaccord Genuity Group increased their price target on shares of Cargojet from C$150.00 to C$156.00 in a research note on Wednesday, July 24th. National Bank Financial upgraded Cargojet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 13th. TD Securities boosted their target price on Cargojet from C$173.00 to C$176.00 in a research report on Thursday, August 15th. Cormark raised their price target on Cargojet from C$135.00 to C$140.00 in a report on Thursday, August 15th. Finally, CIBC lifted their price objective on Cargojet from C$159.00 to C$172.00 and gave the stock an "outperform" rating in a research report on Monday, June 17th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Cargojet presently has a consensus rating of "Moderate Buy" and a consensus target price of C$159.55.
Read Our Latest Analysis on CJT
Cargojet Stock Performance
The firm has a market cap of C$2.20 billion, a P/E ratio of -141.57 and a beta of 0.91. 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 stock's 50-day moving average is C$127.88 and its 200 day moving average is C$122.95.
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 analysts' consensus estimates of C$1.10 by C($1.15). Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. The business had revenue of C$230.80 million for the quarter, compared to analyst estimates of C$239.77 million. On average, research analysts predict that Cargojet Inc. will post 5.886132 earnings per share for the current year.
Cargojet Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, October 4th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 20th. This is an increase from Cargojet's previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.03%. Cargojet's dividend payout ratio (DPR) is presently -145.83%.
About Cargojet
(
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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.
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