Cargojet Inc. (TSE:CJT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Cargojet Inc. (TSE:CJT) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is C$159.55.

Several research firms recently issued reports on CJT. Royal Bank of Canada raised their price target on Cargojet from C$182.00 to C$189.00 and gave the company an “outperform” rating in a report on Monday, July 8th. National Bank Financial raised shares of Cargojet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 13th. Acumen Capital boosted their price target on shares of Cargojet from C$175.00 to C$178.00 in a research note on Thursday, August 15th. TD Securities raised their price objective on shares of Cargojet from C$173.00 to C$176.00 in a research note on Thursday, August 15th. Finally, ATB Capital upped their target price on shares of Cargojet from C$160.00 to C$165.00 in a research report on Thursday, August 15th.

Insider Transactions at Cargojet

In related news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the business’s stock in a transaction that occurred 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. 2.65% of the stock is currently owned by insiders.

Cargojet Price Performance

Shares of CJT stock opened at C$131.87 on Wednesday. Cargojet has a 1 year low of C$76.50 and a 1 year high of C$143.64. The company has a current ratio of 0.59, a quick ratio of 0.79 and a debt-to-equity ratio of 99.84. The firm’s 50 day moving average is C$127.32 and its 200-day moving average is C$121.60. The firm has a market capitalization of C$2.13 billion, a price-to-earnings ratio of -137.36 and a beta of 0.91.

Cargojet (TSE:CJT) last posted its quarterly earnings data on Tuesday, August 13th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.10 by C($1.15). The firm had revenue of C$230.80 million for the quarter, compared to analyst estimates of C$239.77 million. Cargojet had a negative return on equity of 2.13% and a negative net margin of 1.88%. Sell-side analysts forecast that Cargojet will post 5.8949934 EPS for the current fiscal year.

Cargojet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, October 4th will be issued a $0.35 dividend. This is an increase from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Friday, September 20th. Cargojet’s dividend payout ratio is -145.83%.

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.