Cargojet Inc. (TSE:CJT) Receives Consensus Rating of “Buy” from Analysts

Cargojet Inc. (TSE:CJT) has received an average rating of “Buy” from the twelve research firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$250.83.

Several research firms have recently commented on CJT. CIBC reaffirmed an “outperform” rating and issued a C$245.00 price objective on shares of Cargojet in a report on Wednesday, August 11th. Canaccord Genuity boosted their target price on shares of Cargojet from C$220.00 to C$230.00 and gave the company a “na” rating in a research note on Tuesday, July 13th. National Bank Financial upgraded shares of Cargojet to a “sector perform” rating and set a C$205.00 target price for the company in a research note on Thursday. ATB Capital boosted their target price on shares of Cargojet to C$235.00 in a research note on Wednesday, August 11th. Finally, Cormark reiterated an “outperform” rating and issued a C$275.00 target price on shares of Cargojet in a research note on Wednesday, August 4th.

TSE:CJT traded down C$4.83 during trading hours on Friday, hitting C$192.68. 49,644 shares of the company were exchanged, compared to its average volume of 92,299. The stock has a market capitalization of C$3.34 billion and a price-to-earnings ratio of 86.65. Cargojet has a 52-week low of C$159.80 and a 52-week high of C$250.01. The company has a debt-to-equity ratio of 71.32, a current ratio of 2.05 and a quick ratio of 1.70. The company’s 50 day moving average price is C$197.88 and its 200-day moving average price is C$185.85.

Cargojet (TSE:CJT) last released its quarterly earnings data on Tuesday, August 3rd. The company reported C$0.94 EPS for the quarter, missing the consensus estimate of C$1.03 by C($0.09). The firm had revenue of C$172.10 million for the quarter, compared to analyst estimates of C$160.90 million. On average, equities analysts predict that Cargojet will post 6.2200001 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 5th. Stockholders of record on Tuesday, October 5th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, September 17th. Cargojet’s payout ratio is 44.03%.

In related news, Senior Officer Paul David Rinaldo sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 28th. The shares were sold at an average price of C$206.70, for a total value of C$413,400.00. Following the completion of the sale, the insider now owns 2,625 shares of the company’s stock, valued at C$542,587.50.

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 services between fourteen 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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Analyst Recommendations for Cargojet (TSE:CJT)

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