Scotiabank cut shares of Cargojet (TSE:CJT – Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.
A number of other equities analysts have also recently issued reports on CJT. CIBC raised their target price on shares of Cargojet from C$159.00 to C$172.00 and gave the stock an outperform rating in a report on Monday, June 17th. TD Securities raised their price target on Cargojet from C$162.00 to C$173.00 in a report on Wednesday, June 12th. Canaccord Genuity Group upped their price objective on Cargojet from C$145.00 to C$148.00 in a research note on Wednesday, April 24th. Royal Bank of Canada increased their target price on Cargojet from C$182.00 to C$189.00 and gave the stock an outperform rating in a research report on Monday, July 8th. Finally, National Bankshares raised shares of Cargojet from a sector perform rating to an outperform rating and boosted their price target for the company from C$132.00 to C$154.00 in a report on Friday, June 14th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cargojet currently has an average rating of Moderate Buy and a consensus target price of C$156.00.
View Our Latest Research Report on CJT
Cargojet Stock Performance
Cargojet (TSE:CJT – Get Free Report) last issued its earnings results on Monday, April 29th. The company reported C$1.86 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.71 by C$1.15. Cargojet had a net margin of 4.48% and a return on equity of 4.78%. The company had revenue of C$231.20 million for the quarter, compared to analysts’ expectations of C$233.80 million. As a group, equities research analysts predict that Cargojet will post 4.4768237 EPS for the current year.
Cargojet Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, July 5th were given a $0.315 dividend. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $1.26 dividend on an annualized basis and a yield of 0.95%. Cargojet’s dividend payout ratio is presently 53.85%.
Insider Buying and Selling at Cargojet
In other news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of C$140.60, for a total value of C$1,057,623.29. In other news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of C$140.60, for a total value of C$1,057,623.29. Also, Director Arlene Dickinson sold 1,400 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of C$112.00, for a total value of C$156,800.00. In the last 90 days, insiders have sold 18,979 shares of company stock valued at $2,442,315. Company insiders own 2.71% of the company’s stock.
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.
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