Cargojet Inc. (TSE:CJT) Forecasted to Post Q2 2024 Earnings of $0.87 Per Share

Cargojet Inc. (TSE:CJT) – Stock analysts at Cormark lifted their Q2 2024 earnings per share (EPS) estimates for shares of Cargojet in a research note issued on Tuesday, April 30th. Cormark analyst D. Ocampo now expects that the company will post earnings per share of $0.87 for the quarter, up from their previous forecast of $0.71. The consensus estimate for Cargojet’s current full-year earnings is $3.69 per share. Cormark also issued estimates for Cargojet’s Q4 2024 earnings at $1.24 EPS, Q1 2025 earnings at $0.87 EPS, Q2 2025 earnings at $0.92 EPS, Q4 2025 earnings at $1.33 EPS and FY2026 earnings at $4.33 EPS.

Cargojet (TSE:CJT) last announced its earnings results on Monday, February 26th. The company reported C($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.88 by C($1.02). The firm had revenue of C$221.90 million during the quarter, compared to analyst estimates of C$250.58 million. Cargojet had a net margin of 4.25% and a return on equity of 4.62%.

Several other equities analysts have also recently weighed in on CJT. Royal Bank of Canada decreased their price objective on Cargojet from C$184.00 to C$182.00 and set an “outperform” rating for the company in a report on Tuesday. Acumen Capital boosted their price target on Cargojet from C$160.00 to C$165.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. National Bankshares increased their price objective on Cargojet from C$129.00 to C$132.00 and gave the company a “sector perform” rating in a report on Tuesday. Canaccord Genuity Group raised their target price on shares of Cargojet from C$145.00 to C$148.00 in a research note on Wednesday, April 24th. Finally, BMO Capital Markets upped their price target on shares of Cargojet from C$110.00 to C$115.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Cargojet currently has an average rating of “Moderate Buy” and an average price target of C$148.91.

Cargojet Stock Down 4.8 %

Shares of CJT stock opened at C$117.08 on Thursday. The firm’s fifty day moving average price is C$112.32 and its two-hundred day moving average price is C$108.21. Cargojet has a 1 year low of C$76.50 and a 1 year high of C$125.44. The company has a current ratio of 1.49, a quick ratio of 0.79 and a debt-to-equity ratio of 101.87. The firm has a market capitalization of C$1.98 billion, a P/E ratio of 53.71 and a beta of 1.03.

Cargojet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Wednesday, March 20th were issued a $0.315 dividend. This is an increase from Cargojet’s previous quarterly dividend of $0.03. This represents a $1.26 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Tuesday, March 19th. Cargojet’s payout ratio is currently 57.80%.

Cargojet Company Profile

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.