Cargojet (TSE:CJT) Reaches New 12-Month Low – Here’s Why

Cargojet Inc. (TSE:CJT)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as C$83.20 and last traded at C$83.11, with a volume of 24862 shares traded. The stock had previously closed at C$86.05.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Cormark cut their price target on shares of Cargojet from C$140.00 to C$120.00 in a research report on Wednesday, February 19th. Royal Bank of Canada increased their target price on Cargojet from C$189.00 to C$193.00 in a report on Wednesday, February 19th. Canaccord Genuity Group lifted their price target on Cargojet from C$165.00 to C$173.00 in a research note on Wednesday, February 19th. Scotiabank dropped their price objective on Cargojet from C$170.00 to C$165.00 in a research note on Wednesday, February 19th. Finally, National Bankshares lowered their price objective on shares of Cargojet from C$158.00 to C$151.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cargojet has an average rating of “Buy” and an average target price of C$162.80.

Cargojet Stock Down 4.5 %

The company has a market capitalization of C$1.32 billion, a P/E ratio of 576.96 and a beta of 0.91. The company has a 50-day moving average of C$103.84 and a two-hundred day moving average of C$117.29. The company has a quick ratio of 0.79, a current ratio of 0.56 and a debt-to-equity ratio of 98.69.

Cargojet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Thursday, March 20th. Cargojet’s dividend payout ratio (DPR) is presently 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.