Equities Analysts Offer Predictions for Cargojet Inc.’s Q3 2024 Earnings (TSE:CJT)

Cargojet Inc. (TSE:CJT) – Research analysts at National Bank Financial issued their Q3 2024 EPS estimates for shares of Cargojet in a research report issued to clients and investors on Wednesday, August 14th. National Bank Financial analyst C. Doerksen forecasts that the company will post earnings per share of $1.05 for the quarter. National Bank Financial has a “Strong-Buy” rating on the stock. The consensus estimate for Cargojet’s current full-year earnings is $5.08 per share. National Bank Financial also issued estimates for Cargojet’s FY2024 earnings at $4.60 EPS and FY2025 earnings at $5.47 EPS.

A number of other research analysts also recently issued reports on CJT. Cormark boosted their price target on Cargojet from C$135.00 to C$140.00 in a report on Thursday, August 15th. Royal Bank of Canada boosted their target price on shares of Cargojet from C$182.00 to C$189.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. CIBC lifted their price objective on Cargojet from C$159.00 to C$172.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. TD Securities lifted their price target on Cargojet from C$173.00 to C$176.00 in a research note on Thursday, August 15th. Finally, National Bankshares raised shares of Cargojet from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from C$132.00 to C$154.00 in a report on Friday, June 14th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cargojet currently has an average rating of “Moderate Buy” and a consensus target price of C$159.55.

Cargojet Stock Performance

Shares of TSE CJT opened at C$124.20 on Monday. The stock has a market cap of C$2.05 billion, a price-to-earnings ratio of 53.08 and a beta of 0.90. Cargojet has a 12 month low of C$76.50 and a 12 month high of C$143.64. The company has a 50 day simple moving average of C$129.28 and a two-hundred day simple moving average of C$119.88. The company has a current ratio of 0.96, a quick ratio of 0.79 and a debt-to-equity ratio of 85.77.

Cargojet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 20th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 20th. This is an increase from Cargojet’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.13%. Cargojet’s payout ratio is currently 53.85%.

Insider Buying and Selling

In other Cargojet news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of the firm’s stock in a transaction 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. In other news, Senior Officer Ajay Kumar Virmani sold 7,522 shares of Cargojet stock in a transaction on Friday, June 28th. The shares were sold at an average price of C$140.60, for a total value of C$1,057,623.29. Also, Senior Officer Paul David Rinaldo sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of C$133.25, for a total value of C$199,875.00. Over the last ninety days, insiders have sold 11,372 shares of company stock worth $1,540,886. Company insiders own 2.65% of the company’s stock.

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.