Cargojet (TSE:CJT) Given New C$182.00 Price Target at Royal Bank of Canada

Cargojet (TSE:CJT) had its price target lowered by Royal Bank of Canada from C$184.00 to C$182.00 in a report published on Tuesday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also commented on the company. Scotiabank lifted their price target on Cargojet from C$142.00 to C$145.00 and gave the stock an outperform rating in a research report on Monday, January 22nd. BMO Capital Markets lifted their target price on shares of Cargojet from C$110.00 to C$115.00 and gave the company a market perform rating in a report on Tuesday, February 27th. ATB Capital increased their price target on shares of Cargojet from C$155.00 to C$160.00 and gave the stock an outperform rating in a research note on Tuesday, February 27th. Acumen Capital lifted their price objective on shares of Cargojet from C$160.00 to C$165.00 and gave the company a buy rating in a research note on Tuesday, February 27th. Finally, National Bankshares upped their target price on shares of Cargojet from C$109.00 to C$129.00 and gave the company a sector perform rating in a report on Friday, January 5th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of C$148.91.

Cargojet Trading Up 1.1 %

Shares of Cargojet stock opened at C$120.02 on Tuesday. 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 company has a fifty day simple moving average of C$112.36 and a 200-day simple moving average of C$108.51. The stock has a market cap of C$2.02 billion, a price-to-earnings ratio of 55.06 and a beta of 1.03. Cargojet has a 12-month low of C$76.50 and a 12-month high of C$125.44.

Cargojet (TSE:CJT) last announced its quarterly earnings results on Monday, February 26th. The company reported C($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.88 by C($1.02). Cargojet had a net margin of 4.25% and a return on equity of 4.62%. The company had revenue of C$221.90 million during the quarter, compared to analysts’ expectations of C$250.58 million. On average, equities analysts forecast that Cargojet will post 3.6871632 EPS for the current fiscal year.

Cargojet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders 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. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $1.26 annualized dividend and a dividend yield of 1.05%. Cargojet’s payout ratio is presently 57.80%.

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.