Cargojet Inc. (TSE:CJT) to Post Q2 2024 Earnings of $0.83 Per Share, National Bank Financial Forecasts

Cargojet Inc. (TSE:CJT) – Equities researchers at National Bank Financial raised their Q2 2024 EPS estimates for shares of Cargojet in a research report issued to clients and investors on Thursday, June 13th. National Bank Financial analyst C. Doerksen now anticipates that the company will post earnings of $0.83 per share for the quarter, up from their previous estimate of $0.81. National Bank Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for Cargojet’s current full-year earnings is $4.48 per share.

Other research analysts have also issued research reports about the stock. Acumen Capital boosted their price objective on shares of Cargojet from C$160.00 to C$165.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Canaccord Genuity Group upped their price target on shares of Cargojet from C$145.00 to C$148.00 in a research note on Wednesday, April 24th. ATB Capital upped their price target on shares of Cargojet from C$155.00 to C$160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. National Bankshares upgraded shares of Cargojet from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$132.00 to C$154.00 in a research note on Friday, June 14th. Finally, TD Securities upped their price target on shares of Cargojet from C$162.00 to C$173.00 in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$154.45.

Cargojet Trading Up 1.6 %

TSE CJT opened at C$133.54 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.96 and a debt-to-equity ratio of 85.77. The firm has a market cap of C$2.20 billion, a PE ratio of 57.07 and a beta of 1.00. The company has a 50 day moving average price of C$116.57 and a 200 day moving average price of C$115.31. Cargojet has a 52 week low of C$76.50 and a 52 week high of C$135.67.

Cargojet (TSE:CJT) last posted its quarterly earnings data on Monday, April 29th. The company reported C$1.86 EPS for the quarter, topping the consensus estimate of C$0.71 by C$1.15. The firm had revenue of C$231.20 million during the quarter, compared to analyst estimates of C$233.80 million. Cargojet had a net margin of 4.48% and a return on equity of 4.78%.

Insider Buying and Selling

In related news, Director Arlene Dickinson sold 1,400 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of C$112.00, for a total transaction of C$156,800.00. In other Cargojet news, Senior Officer Paul David Rinaldo sold 1,500 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of C$133.25, for a total transaction of C$199,875.00. Also, Director Arlene Dickinson sold 1,400 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of C$112.00, for a total transaction of C$156,800.00. Over the last three months, insiders have sold 10,507 shares of company stock valued at $1,258,105. Corporate insiders own 2.71% of the company’s stock.

Cargojet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, July 5th will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, June 20th. Cargojet’s dividend payout ratio (DPR) is presently 53.85%.

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.