Cargojet Inc. (TSE:CJT) Given Average Rating of “Buy” by Brokerages

Cargojet Inc. (TSE:CJT) has received a consensus rating of “Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$162.80.

CJT has been the subject of several recent research reports. National Bankshares dropped their price target on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Royal Bank of Canada increased their price target on shares of Cargojet from C$189.00 to C$193.00 in a research note on Wednesday, February 19th. Scotiabank decreased their price target on shares of Cargojet from C$170.00 to C$165.00 in a research note on Wednesday, February 19th. Cormark reduced their price objective on shares of Cargojet from C$140.00 to C$120.00 in a research note on Wednesday, February 19th. Finally, CIBC reduced their price objective on shares of Cargojet from C$177.00 to C$163.00 in a research note on Wednesday, February 19th.

Cargojet Stock Performance

TSE:CJT opened at C$85.37 on Wednesday. Cargojet has a 12-month low of C$82.85 and a 12-month high of C$144.97. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69. The firm has a market capitalization of C$1.37 billion, a PE ratio of 599.13 and a beta of 0.91. The firm has a 50-day moving average price of C$107.72 and a 200 day moving average price of C$119.37.

Cargojet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, April 4th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, March 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.64%. Cargojet’s payout ratio is 982.53%.

About Cargojet

Cargojet Inc operates a domestic air cargo co-load network between sixteen major Canadian cities. The company provides dedicated aircraft to customers on an Aircraft, Crew, Maintenance and Insurance basis, operating between points in Canada, USA, Mexico and Europe. The company also operates scheduled international routes for multiple cargo customers between the USA and Bermuda, between Canada, UK and Germany; and between Canada and Mexico.