Cargojet (TSE:CJT) Shares Cross Above 200 Day Moving Average - Should You Sell?

Cargojet Inc. (TSE:CJT - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$124.10 and traded as high as C$138.94. Cargojet shares last traded at C$137.69, with a volume of 32,103 shares.

Analyst Ratings Changes

A number of brokerages recently issued reports on CJT. Scotiabank downgraded Cargojet from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 10th. Canaccord Genuity Group upped their target price on Cargojet from C$150.00 to C$156.00 in a report on Wednesday, July 24th. TD Securities boosted 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 report on Thursday, August 15th. Finally, CIBC boosted their price target on shares of Cargojet from C$159.00 to C$172.00 and gave the company 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 issued a strong buy rating to the company's stock. According to MarketBeat, Cargojet presently has an average rating of "Moderate Buy" and an average price target of C$159.55.

Cargojet Stock Up 2.7 %

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 stock's 50 day simple moving average is C$128.61 and its two-hundred day simple moving average is C$124.20. The firm has a market cap of C$2.22 billion, a P/E ratio of -144.94 and a beta of 0.91.

Cargojet (TSE:CJT - Get Free Report) last announced its quarterly earnings data 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). Cargojet had a negative net margin of 1.88% and a negative return on equity of 2.13%. The company had revenue of C$230.80 million for the quarter, compared to analysts' expectations of C$239.77 million. As a group, research analysts forecast that Cargojet Inc. will post 5.890933 earnings per share for the current year.

Cargojet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Friday, October 4th were paid a dividend of $0.35 per share. This is a positive change from Cargojet's previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Friday, September 20th. Cargojet's dividend payout ratio (DPR) 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.