Cargojet Inc. to Post Q1 2022 Earnings of $1.41 Per Share, Cormark Forecasts (TSE:CJT)

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Cargojet Inc. (TSE:CJT) – Cormark lifted their Q1 2022 earnings per share (EPS) estimates for Cargojet in a research note issued to investors on Monday, April 5th. Cormark analyst D. Ocampo now forecasts that the company will post earnings of $1.41 per share for the quarter, up from their previous estimate of $1.34. Cormark has a “Outperform” rating on the stock.

Cargojet (TSE:CJT) last released its quarterly earnings results on Monday, March 1st. The company reported C$1.69 earnings per share for the quarter, missing the consensus estimate of C$1.89 by C($0.20). The business had revenue of C$187.10 million during the quarter, compared to analysts’ expectations of C$175.50 million.

A number of other equities analysts have also recently weighed in on the company. CIBC decreased their price objective on Cargojet from C$265.00 to C$245.00 in a report on Tuesday, March 2nd. Canaccord Genuity decreased their price objective on Cargojet from C$250.00 to C$200.00 in a report on Tuesday, March 2nd. Scotiabank raised Cargojet from a “sector perform” rating to an “outperform” rating and decreased their price objective for the company from C$240.00 to C$220.00 in a report on Tuesday, March 2nd. National Bank Financial decreased their price objective on Cargojet from C$254.00 to C$231.00 and set an “outperform” rating on the stock in a report on Tuesday, March 2nd. Finally, Royal Bank of Canada raised their price objective on Cargojet from C$310.00 to C$315.00 and gave the company an “outperform” rating in a report on Tuesday, February 2nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of C$250.55.

TSE:CJT opened at C$173.75 on Tuesday. The business’s 50-day moving average price is C$177.22 and its two-hundred day moving average price is C$204.54. Cargojet has a twelve month low of C$103.23 and a twelve month high of C$250.01. The stock has a market cap of C$3.01 billion and a P/E ratio of -30.86. The company has a quick ratio of 0.25, a current ratio of 0.53 and a debt-to-equity ratio of 326.94.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 5th. Stockholders of record on Monday, April 5th were given a $0.26 dividend. This is a positive change from Cargojet’s previous quarterly dividend of $0.23. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Thursday, March 18th. Cargojet’s dividend payout ratio (DPR) is currently -16.62%.

Cargojet Company Profile

Cargojet Inc provides time sensitive overnight air cargo services in Canada. Its air cargo business activities include operation of domestic overnight air cargo co-load network between 15 cities in North America; and provision of dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis operating between points in Canada, North and South America, and Europe.

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Earnings History and Estimates for Cargojet (TSE:CJT)

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